Fifth Third Bancorp [FITB] Revenue clocked in at $5.35 billion, up 33.88% YTD: What’s Next?

Fifth Third Bancorp [NASDAQ: FITB] price plunged by -2.95 percent to reach at -$1.12. The company report on June 18, 2021 that Fifth Third Bank Celebrates Juneteenth.

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Amid Juneteenth activities across its footprint, Fifth Third adds holiday for employees beginning in 2022.

Beginning in 2022, Fifth Third Bank will expand its holiday calendar to recognize Juneteenth as the country’s 11th federal holiday, which commemorates the date the last Confederate slaves learned they were free. Due to the timing of the enactment of the new holiday and requirements for branch closures regulated by the Office of the Comptroller of the Currency, Fifth Third will remain open this year to avoid any disruption of service to customers.

A sum of 11592771 shares traded at recent session while its average daily volume was at 5.42M shares. Fifth Third Bancorp shares reached a high of $37.67 and dropped to a low of $36.70 until finishing in the latest session at $36.91.

The one-year FITB stock forecast points to a potential upside of 15.98. The average equity rating for FITB stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $43.93 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 1.15, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 5.01. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 52.44.

FITB Stock Performance Analysis:

Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.02. With this latest performance, FITB shares dropped by -11.47% in over the last four-week period, additionally plugging by 35.45% over the last 6 months – not to mention a rise of 70.96% 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 27.65, with the RSI for the last a single of trading hit 20.56, and the three-weeks RSI is set at 34.43 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 40.44, while it was recorded at 39.02 for the last single week of trading, and 31.59 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 +22.73. Fifth Third Bancorp’s Net Margin is presently recorded at +18.38.

Return on Total Capital for FITB is now 4.54, 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.

FITB Stock EPS

With the latest financial reports released by the company, Fifth Third Bancorp posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.00%. 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 Position Details

There are presently around $20,879 million, or 83.50% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 83,487,564, which is approximately 1.331% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 53,474,354 shares of the stock with an approximate value of $1.97 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.83 billion in FITB stock with ownership of nearly -8.804% 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 398 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 52,266,063 shares. Additionally, 353 investors decreased positions by around 44,822,199 shares, while 138 investors held positions by with 468,572,068 shares. The mentioned changes placed institutional holdings at 565,660,330 shares, according to the latest SEC report filing. FITB stock had 143 new institutional investments in for a total of 5,946,850 shares, while 66 institutional investors sold positions of 7,707,524 shares during the same period.

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