Tuesday, October 20, 2020

For Fifth Third Bancorp [FITB], Morgan Stanley sees a rise to $30. What next?

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Fifth Third Bancorp [NASDAQ: FITB] loss -1.69% or -0.39 points to close at $22.73 with a heavy trading volume of 6508439 shares. The company report on October 7, 2020 that Fifth Third Collaborates with NeighborWorks America to Prevent Foreclosures and Evictions.

Collaboration includes foreclosure mitigation, eviction prevention and financial counseling to those in need.

The Fifth Third Foundation today announced a collaboration with NeighborWorks America to support efforts addressing the impacts of COVID-19 in local communities across 18 NeighborWorks America network organizations located throughout Fifth Third’s 10-state footprint.

It opened the trading session at $23.33, the shares rose to $23.59 and dropped to $22.70, the range by which the price of stock traded the whole day. The daily chart for FITB points out that the company has recorded 53.89% gains over the past six months. However, it is still -104.77% lower than its most recent low trading price.

If we look at the average trading volume of 5.61M shares, FITB reached to a volume of 6508439 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $24.70 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 2.00. 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.

Morgan Stanley have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 25, 2020. The new note on the price target was released on July 31, 2020, representing the official price target for Fifth Third Bancorp stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 0.83, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 44.29. Price to Free Cash Flow for FITB in the course of the last twelve months was 8.24.

Trading performance analysis for FITB stock

Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.57. With this latest performance, FITB shares gained by 3.93% in over the last four-week period, additionally plugging by 53.89% over the last 6 months – not to mention a drop of -16.97% 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 56.54, with the RSI for the last a single of trading hit 55.72, and the three-weeks RSI is set at 56.62 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 21.22, while it was recorded at 23.29 for the last single week of trading, and 21.30 for the last 200 days.

Fifth Third Bancorp [FITB]: A deeper dive into fundamental analysis

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 8.03. 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 79.22. Additionally, FITB Total Debt to Total Capital is recorded at 44.20, 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 34.89.

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

Fifth Third Bancorp [FITB]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Fifth Third Bancorp [FITB]

There are presently around $13,237 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 $1.55 billion in FITB stocks shares; and BLACKROCK INC., currently with $1.33 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 284 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 71,097,167 shares. Additionally, 339 investors decreased positions by around 62,976,813 shares, while 110 investors held positions by with 438,439,097 shares. The mentioned changes placed institutional holdings at 572,513,077 shares, according to the latest SEC report filing. FITB stock had 76 new institutional investments in for a total of 7,501,430 shares, while 88 institutional investors sold positions of 8,033,957 shares during the same period.

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