Fifth Third Bancorp [FITB] Stock trading around $24.11 per share: What’s Next?

Fifth Third Bancorp [NASDAQ: FITB] stock went on an upward path that rose over 3.83% on Monday, amounting to a one-week price increase of more than 2.81%. The company report on November 2, 2020 that American Heart Association Recognizes Fifth Third Bank with Gold for Workplace Health Achievement.

Scientific, evidenced-based instrument rates and recognizes workplace health programs and workforce heart health.

The results of the American Heart Association 2020 Workplace Health Achievement Index were announced and Fifth Third Bank achieved national gold recognition for taking significant steps to build a culture of health in the workplace. Fifth Third is one of 776 organizations that completed the Index assessment this year, evaluating the time period of July 30, 2019 to June 30, 2020. Of the organizations that completed the Index assessment, 35% received gold recognition, the highest percentage to date, 29% silver and 25% bronze. Fifth Third’s commitment to fostering wellness among its employees and the communities it serves is detailed in its 2019 Environmental, Social and Governance Report.

Over the last 12 months, FITB stock dropped by -18.44%. The one-year Fifth Third Bancorp stock forecast points to a potential upside of 8.5. The average equity rating for FITB stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $17.08 billion, with 714.77 million shares outstanding and 710.03 million shares in the current float. Compared to the average trading volume of 5.45M shares, FITB stock reached a trading volume of 4725993 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $26.35 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.

UBS have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 30, 2020. The new note on the price target was released on October 23, 2020, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise from $24 to $30, while Morgan Stanley kept a Overweight rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 0.85, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.94. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 45.15. Price to Free Cash Flow for FITB in the course of the last twelve months was 22.10.

FITB Stock Performance Analysis:

Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.81. With this latest performance, FITB shares gained by 10.14% in over the last four-week period, additionally plugging by 38.80% over the last 6 months – not to mention a drop of -18.44% 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 59.43, with the RSI for the last a single of trading hit 61.29, and the three-weeks RSI is set at 58.84 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 21.99, while it was recorded at 23.16 for the last single week of trading, and 20.88 for the last 200 days.

Insight into Fifth Third Bancorp 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 8.03. 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.

FITB Stock EPS

With the latest financial reports released by the company, Fifth Third Bancorp posted 0.68/share EPS, while the average EPS was predicted by analysts to be reported at 0.72/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.60%. 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 -2.46%.

Fifth Third Bancorp [FITB] Insider Position Details

There are presently around $13,345 million, or 81.20% 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 0.29% 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 October and at the time of the October reporting period, where 267 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 74,682,921 shares. Additionally, 341 investors decreased positions by around 60,232,384 shares, while 113 investors held positions by with 439,799,672 shares. The mentioned changes placed institutional holdings at 574,714,977 shares, according to the latest SEC report filing. FITB stock had 69 new institutional investments in for a total of 6,956,274 shares, while 77 institutional investors sold positions of 8,091,737 shares during the same period.

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