Fifth Third Bancorp [FITB] is -33.47% lower this YTD. Is it still time to buy?

Fifth Third Bancorp [NASDAQ: FITB] surged by $0.68 during the normal trading session on Friday and reaching a high of $20.46 during the day while it closed the day at $20.45. The company report on August 1, 2020 that FIFTH THIRD INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Fifth Third Bancorp – FITB.

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Fifth Third Bancorp (NasdaqGS: FITB).

On March 9, 2020, the U.S. Consumer Financial Protection Bureau (“CFPB”) filed suit against the Company for violations of various federal consumer protection laws based on allegations of widespread and long-ranging unauthorized customer account openings from 2010 through 2016. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit charging them with failing to disclose material information in violation of federal securities laws, which remains ongoing.

Fifth Third Bancorp stock has also gained 2.97% of its value over the past 7 days. However, FITB stock has inclined by 13.01% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.65% and lost -33.47% year-on date.

The market cap for FITB stock reached $14.08 billion, with 713.56 million shares outstanding and 709.46 million shares in the current float. Compared to the average trading volume of 8.01M shares, FITB reached a trading volume of 4212332 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Fifth Third Bancorp [FITB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FITB shares is $22.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FITB stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 31, 2020. The new note on the price target was released on July 28, 2020, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $19, while DA Davidson analysts kept a Buy rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 0.72, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 0.73, with the Price to Cash per share for the same quarter was set at 14.58. Price to Free Cash Flow for FITB in the course of the last twelve months was 15.29.

FITB stock trade performance evaluation

Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.97. With this latest performance, FITB shares gained by 17.60% in over the last four-week period, additionally sinking by -30.65% over the last 6 months – not to mention a drop of -23.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FITB stock in for the last two-week period is set at 56.26, with the RSI for the last a single of trading hit 65.13, and the three-weeks RSI is set at 55.40 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 20.02, while it was recorded at 19.84 for the last single week of trading, and 23.39 for the last 200 days.

Fifth Third Bancorp [FITB]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fifth Third Bancorp [FITB] shares currently have an operating margin of +33.70. Fifth Third Bancorp’s Net Margin is presently recorded at +26.53.

Return on Total Capital for FITB is now 8.89, given the latest momentum, and Return on Invested Capital for the company is 8.92. Return on Equity for this stock inclined to 13.30, with Return on Assets sitting at 1.58. When it comes to the capital structure of this company, Fifth Third Bancorp [FITB] has a Total Debt to Total Equity ratio set at 95.09. Additionally, FITB Total Debt to Total Capital is recorded at 48.74, with Total Debt to Total Assets ending up at 9.92. Long-Term Debt to Equity for the company is recorded at 68.22, with the Long-Term Debt to Total Capital now at 38.47.

Reflecting on the efficiency of the workforce at the company, Fifth Third Bancorp [FITB] managed to generate an average of $125,371 per employee.

Earnings per share (EPS) analysis for Fifth Third Bancorp [FITB] stock

With the latest financial reports released by the company, Fifth Third Bancorp posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FITB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fifth Third Bancorp go to -3.16%.

Fifth Third Bancorp [FITB]: Insider Ownership positions

There are presently around $11,450 million, or 81.70% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 82,789,707, which is approximately 16.014% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 63,684,091 shares of the stock with an approximate value of $1.3 billion in FITB stocks shares; and BLACKROCK INC., currently with $955.5 million in FITB stock with ownership of nearly -1.559% of the company’s market capitalization.

Positions in Fifth Third Bancorp stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 292 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 46,746,416 shares. Additionally, 381 investors decreased positions by around 46,132,220 shares, while 106 investors held positions by with 467,040,315 shares. The mentioned changes placed institutional holdings at 559,918,951 shares, according to the latest SEC report filing. FITB stock had 56 new institutional investments in for a total of 3,881,394 shares, while 132 institutional investors sold positions of 10,013,953 shares during the same period.

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