Sunday, April 11, 2021

Market Analysts see Fifth Third Bancorp [FITB] gaining to $35. Time to buy?

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Fifth Third Bancorp [NASDAQ: FITB] traded at a low on 03/31/21, posting a -1.76 loss after which it closed the day’ session at $37.45. The company report on March 23, 2021 that Fifth Third Foundation Announces Recipients of $1.2 Million in Grants for Black, Woman-owned Businesses.

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The Fifth Third Foundation announced the recipients of $1.2 million in grants for Black, woman-owned businesses and the organizations that serve them through the Innovation Meets Main Street: Boosting Black, Woman-owned Businesses program, which was announced in September 2020.

The results of the trading session contributed to over 6116032 shares changing hands. Over the past one week, the price volatility of Fifth Third Bancorp stands at 3.46% while the volatility over the past one month is 3.59%.

The market cap for FITB stock reached $26.14 billion, with 715.49 million shares outstanding and 710.07 million shares in the current float. Compared to the average trading volume of 6.38M shares, FITB reached a trading volume of 6116032 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 $38.01 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 1.90. 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.

Goldman have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 07, 2021. The new note on the price target was released on December 07, 2020, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $23, while UBS analysts kept a Neutral rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 1.34, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 4.69. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 57.35.

How has FITB stock performed recently?

Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.22. With this latest performance, FITB shares gained by 3.60% in over the last four-week period, additionally plugging by 78.42% over the last 6 months – not to mention a rise of 152.19% 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 53.86, with the RSI for the last a single of trading hit 50.82, and the three-weeks RSI is set at 56.09 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.59, while it was recorded at 37.78 for the last single week of trading, and 25.99 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 +21.38. Fifth Third Bancorp’s Net Margin is presently recorded at +17.32.

Return on Total Capital for FITB is now 4.53, given the latest momentum, and Return on Invested Capital for the company is 4.11. Return on Equity for this stock inclined to 6.47, with Return on Assets sitting at 0.77. When it comes to the capital structure of this company, Fifth Third Bancorp [FITB] has a Total Debt to Total Equity ratio set at 73.52. Additionally, FITB Total Debt to Total Capital is recorded at 42.37, with Total Debt to Total Assets ending up at 8.30. Long-Term Debt to Equity for the company is recorded at 58.27, with the Long-Term Debt to Total Capital now at 30.51.

Reflecting on the efficiency of the workforce at the company, Fifth Third Bancorp [FITB] managed to generate an average of $72,112 per employee.

Earnings analysis for Fifth Third Bancorp [FITB]

With the latest financial reports released by the company, Fifth Third Bancorp posted 0.04/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -87.90%. 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 $20,878 million, or 80.00% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 82,390,760, which is approximately -1.573% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 56,398,478 shares of the stock with an approximate value of $2.11 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.04 billion in FITB stock with ownership of nearly -16.435% of the company’s market capitalization.

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Positions in Fifth Third Bancorp stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 396 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 41,894,429 shares. Additionally, 274 investors decreased positions by around 56,599,709 shares, while 123 investors held positions by with 459,003,897 shares. The mentioned changes placed institutional holdings at 557,498,035 shares, according to the latest SEC report filing. FITB stock had 167 new institutional investments in for a total of 8,796,373 shares, while 46 institutional investors sold positions of 20,060,196 shares during the same period.

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