Sunday, September 27, 2020

Wolfe Research lifts Fifth Third Bancorp [FITB] price estimate. Who else is bullish?

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Fifth Third Bancorp [NASDAQ: FITB] closed the trading session at $21.05 on 09/11/20. The day’s price range saw the stock hit a low of $20.535, while the highest price level was $21.15. The company report on September 9, 2020 that Fifth Third Foundation Powers $1.2 Million Innovation Meets Main Street Program for Black, Women-Owned Entrepreneurs.

Fifth Third today announced an exciting new $1.2 million program called Innovation meets Main Street: Boosting Black Women-Owned Businesses, a partnership between AEO and LISC powered by Fifth Third Bank.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200909005679/en/.

The stocks have a year to date performance of -31.54 percent and weekly performance of -0.31 percent. The stock has been moved at 19.37 percent over the last six months. The stock has performed -1.20 percent around the most recent 30 days and changed 1.15 percent over the most recent 3-months.

If compared to the average trading volume of 6.48M shares, FITB reached to a volume of 4125427 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 $22.91 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 2.10. 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 0.70, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.40. 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 45.82. Price to Free Cash Flow for FITB in the course of the last twelve months was 7.38.

FITB stock trade performance evaluation

Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.31. With this latest performance, FITB shares dropped by -1.20% in over the last four-week period, additionally plugging by 19.37% over the last 6 months – not to mention a drop of -24.92% 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 54.61, with the RSI for the last a single of trading hit 53.63, and the three-weeks RSI is set at 53.90 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 19.91, while it was recorded at 21.08 for the last single week of trading, and 22.31 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 -2.98%.

Fifth Third Bancorp [FITB]: Insider Ownership positions

There are presently around $12,063 million, or 81.30% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 74,657,930, which is approximately 17.232% of the company’s market cap and around 0.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 66,849,864 shares of the stock with an approximate value of $1.41 billion in FITB stocks shares; and BLACKROCK INC., currently with $1.21 billion in FITB stock with ownership of nearly 22.866% 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 288 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 71,069,299 shares. Additionally, 351 investors decreased positions by around 64,718,679 shares, while 106 investors held positions by with 437,395,030 shares. The mentioned changes placed institutional holdings at 573,183,008 shares, according to the latest SEC report filing. FITB stock had 77 new institutional investments in for a total of 7,512,066 shares, while 86 institutional investors sold positions of 9,418,280 shares during the same period.

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