Truist Financial Reaffirms Their Buy Rating on Fifth Third Bancorp (FITB)

In a report released on March 13, Brian Foran from Truist Financial maintained a Buy rating on Fifth Third Bancorp, with a price target of $53.00. The company’s shares closed last Friday at $43.40.

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Foran covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Huntington Bancshares, and KeyCorp. According to TipRanks, Foran has an average return of 1.4% and a 50.70% success rate on recommended stocks.

In addition to Truist Financial, Fifth Third Bancorp also received a Buy from Wells Fargo’s Mike Mayo in a report issued on March 12. However, on March 11, TipRanks – OpenAI downgraded Fifth Third Bancorp (NASDAQ: FITB) to a Hold.

Based on Fifth Third Bancorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.28 billion and a net profit of $731 million. In comparison, last year the company earned a revenue of $3.23 billion and had a net profit of $620 million

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FITB in relation to earlier this year. Last month, Jude Schramm, the EVP & CIO of FITB sold 14,896.00 shares for a total of $757,511.88.