CLSA Maintains Fifth Third Bancorp to Outperform with Price Target $23.00

Brokerage firm CLSA Maintains its rating on Fifth Third Bancorp(NASDAQ:FITB). In a research note issued to the investors, the brokerage major Raises the price-target to $23.00 per share. The shares have been rated Outperform. The rating by CLSA was issued on Sep 23, 2016.

In a different note, On Aug 1, 2016, Citigroup said it Maintains its rating on Fifth Third Bancorp. In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 6, 2016, Oppenheimer said it Downgrades its rating on Fifth Third Bancorp. The shares have been rated ‘Perform’ by the firm. On Jul 5, 2016, Morgan Stanley said it Downgrades its rating on Fifth Third Bancorp. The shares have been rated ‘Equalweight’ by the firm.

Fifth Third Bancorp (FITB) made into the market gainers list on Tuesdays trading session with the shares advancing 1.27% or 0.26 points. Due to strong positive momentum, the stock ended at $20.72, which is also near the day’s high of $20.74. The stock began the session at $20.36 and the volume stood at 70,75,932 shares. The 52-week high of the shares is $21.135 and the 52 week low is $13.84. The company has a current market capitalization of $15,879 M and it has 76,63,74,460 shares in outstanding.

Fifth Third Bancorp(FITB) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.51B. Analysts had an estimated revenue of $1.52B. Earnings per share were $0.40. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Nov 25, 2015, Frank R. Forrest (EVP & Chief Risk & Credit Off) sold 6,702 shares at $20.47 per share price.Also, On Aug 25, 2015, James C. Leonard (SVP & Treasurer) sold 11,803 shares at $20.20 per share price.On Aug 18, 2015, Jewell D Hoover (director) sold 1,420 shares at $21.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Fifth Third Bancorp is a bank holding company. The Company’s subsidiary Fifth Third Bank provide a range of financial products and services to the retail commercial financial governmental educational and medical sectors and credit products such as credit cards installment loans mortgage loans and leases. The Company operates in four business segments: Commercial Banking Branch Banking Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation cash management and financial services to market businesses and Government and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1302 Banking Centers. Consumer Lending includes its mortgage home equity automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals companies and not-for-profit organizations.

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