Market cap of Fifth Third Bancorp [FITB] reaches 31.88B – now what?


Fifth Third Bancorp [NASDAQ: FITB] jumped around 1.9 points on Tuesday, while shares priced at $46.57 at the close of the session, up 4.25%. The company report on December 28, 2021 that The Fifth Third Foundation Announces More Than $23 Million in 2021 Grants.

The Fifth Third Foundation at Fifth Third Bank, National Association, has announced grants of more than $23 million in 2021. The philanthropic organization made the awards to nearly 140 organizations that focus on culture, civic and community programs, nonprofits, small businesses, affordable housing, financial literacy and workforce development efforts.

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“Regardless of the neighborhood where one lives or works, every community is an ever-evolving, all-encompassing entity for those who call it home,” said Heidi B. Jark, senior vice president and managing director of The Foundation Office. “We realize the philanthropic gifts from the Fifth Third Foundation create positive and long-lasting impacts that ultimately provide opportunities for those communities to be strengthened.”.

Fifth Third Bancorp stock is now 6.93% up from its year-to-date (YTD) trading value. FITB Stock saw the intraday high of $46.78 and lowest of $45.07 per share. The company’s 52-week high price is 45.92, which means current price is +5.86% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 4.16M shares, FITB reached a trading volume of 5454012 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 $49.02 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.

Citigroup have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price to Mkt Perform. The new note on the price target was released on July 07, 2021, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $35, while Goldman analysts kept a Buy rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 1.20, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 6.09. The Price to Book ratio for the last quarter was 1.59, with the Price to Cash per share for the same quarter was set at 55.66.

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 6.37. With this latest performance, FITB shares gained by 8.18% in over the last four-week period, additionally plugging by 25.63% over the last 6 months – not to mention a rise of 68.67% 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 67.19, with the RSI for the last a single of trading hit 75.21, and the three-weeks RSI is set at 62.66 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 43.75, while it was recorded at 44.46 for the last single week of trading, and 40.62 for the last 200 days.

Earnings analysis for Fifth Third Bancorp [FITB]

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%.

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Insider trade positions for Fifth Third Bancorp [FITB]

There are presently around $24,815 million, or 84.10% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 85,691,385, which is approximately 3.635% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 53,769,156 shares of the stock with an approximate value of $2.4 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.13 billion in FITB stock with ownership of nearly -0.599% of the company’s market capitalization.

335 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 23,720,843 shares. Additionally, 389 investors decreased positions by around 23,018,282 shares, while 174 investors held positions by with 508,769,380 shares. The mentioned changes placed institutional holdings at 555,508,505 shares, according to the latest SEC report filing. FITB stock had 69 new institutional investments in for a total of 2,007,988 shares, while 73 institutional investors sold positions of 3,656,830 shares during the same period.