Fifth Third Bancorp [NASDAQ: FITB] slipped around -0.44 points on Friday, while shares priced at $27.34 at the close of the session, down -1.58%. The company report on December 11, 2020 that Fifth Third Bank Launches Collaborative Initiative to Assist Small Businesses Impacted by COVID-19.
Fifth Third Bank, National Association, has announced the launch of the Greater Cincinnati COVID-19 Small Business Response and Recovery Initiative to ensure the success of small businesses in Hamilton County. The Initiative will provide small businesses of 25 or fewer employees (with an emphasis on small businesses with five or fewer employees) in low-to-moderate income communities that have been impacted by the pandemic with advice and pathways to accessing capital, via the Initiative’s loan and grant programs.
Fifth Third has invested an initial $700,000; additional funding partner Greater Cincinnati Foundation has invested $250,000 and JPMorgan Chase has invested $100,000. The Greater Cincinnati and Northern Kentucky African American Chamber of Commerce and the Cincinnati USA Regional Chamber are founding business service organizations that will provide technical assistance to participating businesses. Additional business service organizations are the Urban League of Greater Southwestern Ohio and the Greater Cincinnati Microenterprise Initiative. Referral partners for the Initiative are the Hispanic Chamber Cincinnati USA and HCDC, Inc.
Fifth Third Bancorp stock is now -11.06% down from its year-to-date (YTD) trading value. FITB Stock saw the intraday high of $27.56 and lowest of $26.99 per share. The company’s 52-week high price is 31.64, which means current price is +146.31% above from all time high which was touched on 01/02/20.
Compared to the average trading volume of 6.07M shares, FITB reached a trading volume of 4105606 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $27.90 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.
Evercore ISI have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as In-line, with their previous recommendation back on December 07, 2020. The new note on the price target was released on October 30, 2020, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $28.75, while Janney analysts kept a Buy rating on FITB stock. On September 25, 2020, analysts increased their price target for FITB shares from 24 to 30.
The Average True Range (ATR) for Fifth Third Bancorp is set at 0.96, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 3.40. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 48.33. Price to Free Cash Flow for FITB in the course of the last twelve months was 8.63.
How has FITB stock performed recently?
Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.22. With this latest performance, FITB shares gained by 6.30% in over the last four-week period, additionally plugging by 27.40% over the last 6 months – not to mention a drop of -13.18% 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 59.36, with the RSI for the last a single of trading hit 59.00, and the three-weeks RSI is set at 59.09 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 24.81, while it was recorded at 27.50 for the last single week of trading, and 20.49 for the last 200 days.
Fifth Third Bancorp [FITB]: Deeper insight into the 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.
Earnings analysis for Fifth Third Bancorp [FITB]
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 -2.98%.
Insider trade positions for Fifth Third Bancorp [FITB]
There are presently around $15,656 million, or 81.80% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 83,707,527, which is approximately 12.121% of the company’s market cap and around 0.32% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 65,104,749 shares of the stock with an approximate value of $1.78 billion in FITB stocks shares; and BLACKROCK INC., currently with $1.55 billion in FITB stock with ownership of nearly -1.008% 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 245 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 35,431,935 shares. Additionally, 342 investors decreased positions by around 35,532,751 shares, while 126 investors held positions by with 501,693,739 shares. The mentioned changes placed institutional holdings at 572,658,425 shares, according to the latest SEC report filing. FITB stock had 62 new institutional investments in for a total of 3,527,199 shares, while 73 institutional investors sold positions of 3,229,953 shares during the same period.