Oppenheimer Assigned a Hold Rating to Fifth Third Bancorp

In a report released yesterday, Ben Chittenden from Oppenheimer assigned a Hold rating to Fifth Third Bancorp (NASDAQ: FITB). The company’s shares closed yesterday at $20.39, close to its 52-week high of $21.14.

According to TipRanks.com, Chittenden is a 1-star analyst with an average return of -2.0% and a 48.7% success rate. Chittenden covers the Financial sector, focusing on stocks such as America First Tax Exempt L.P., Discover Financial Services, and Capital One Financial.

Currently, the analyst consensus on Fifth Third Bancorp is Hold and the average price target is $20.44, representing a 0.2% upside.

In a report issued on October 7, Wedbush also initiated coverage with a Hold rating on the stock with a $22 price target.

The company has a one year high of $21.14 and a one year low of $13.84. Currently, Fifth Third Bancorp has an average volume of 6.08M.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2013, Daniel Poston, a the EVP & CSAO of FITB sold 13,418 shares for a total of $245,684.

Fifth Third Bancorp is a diversified financial services company. It operates as a bank holding company through its subsidiary Fifth Third Bank, which provides banking and financial services, offers retail and commercial banking, consumer lending services and investment advisory services. The company operates through four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Commercial Banking segment offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. Its products and services include global cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset based lending, real estate finance, public finance, commercial leasing and syndicated finance. The Branch Banking segment provides a full range of deposit and loan and lease products to individuals and small businesses. It also offers depository and loan products, such as checking and savings accounts, home equity loans and lines of credit, credit cards and loans for automobiles and other personal financing needs, as well as products designed to meet the specific needs of small businesses, including cash management services. The Consumer Lending segment includes mortgage, home equity, automobile and other indirect lending activities. Its mortgage and home equity lending activities include the origination, retention and servicing of mortgage and home equity loans or lines of credit, sales and securitizations of those loans or pools of loans or lines of credit and all associated hedging activities. The Investment Advisors segment provides a full range of investment alternatives for individuals, companies and not-for-profit organizations. Fifth Third Bancorp was founded on October 7, 1974 and is headquartered in Cincinnati, OH.