Fifth Third Bancorp [FITB] fell -10.91% so far this year. What now?


Fifth Third Bancorp [NASDAQ: FITB] traded at a high on 04/25/22, posting a 0.96 gain after which it closed the day’ session at $38.80. The company report on April 25, 2022 that Fifth Third Bank Welcomes Back Art Weston.

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Will take on new role focused on artificial intelligence.

Fifth Third Bank, National Association, announced Art Weston will be rejoining the Bank in a newly created role to deploy artificial intelligence at scale delivering leading customer experiences in assisted self-service channels. As director of automated channel transformation, Weston will be responsible for developing and executing artificial intelligence capabilities into the Bank’s customer experience across all consumer channels. He previously was the head of the Bank’s decision sciences group from 2016 to 2021.

The results of the trading session contributed to over 8094579 shares changing hands. Over the past one week, the price volatility of Fifth Third Bancorp stands at 4.16% while the volatility over the past one month is 3.27%.

The market cap for FITB stock reached $28.15 billion, with 688.22 million shares outstanding and 682.09 million shares in the current float. Compared to the average trading volume of 6.73M shares, FITB reached a trading volume of 8094579 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 $49.22 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.

Wolfe Research have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $56 to $50. The new note on the price target was released on March 28, 2022, representing the official price target for Fifth Third Bancorp stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 1.38, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 5.42. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 56.48.

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 -0.69. With this latest performance, FITB shares dropped by -15.38% in over the last four-week period, additionally sinking by -14.71% over the last 6 months – not to mention a rise of 0.05% 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 34.17, with the RSI for the last a single of trading hit 32.68, and the three-weeks RSI is set at 36.52 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 44.29, while it was recorded at 39.66 for the last single week of trading, and 42.81 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 +42.00. Fifth Third Bancorp’s Net Margin is presently recorded at +34.09.

Return on Equity for this stock inclined to 12.19, with Return on Assets sitting at 1.33.

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%.

Insider trade positions for Fifth Third Bancorp [FITB]

There are presently around $21,318 million, or 82.70% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 83,040,329, which is approximately -3.094% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 53,486,431 shares of the stock with an approximate value of $2.06 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.82 billion in FITB stock with ownership of nearly -0.979% of the company’s market capitalization.

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 408 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 22,630,446 shares. Additionally, 363 investors decreased positions by around 30,999,307 shares, while 191 investors held positions by with 501,093,098 shares. The mentioned changes placed institutional holdings at 554,722,851 shares, according to the latest SEC report filing. FITB stock had 126 new institutional investments in for a total of 8,486,316 shares, while 47 institutional investors sold positions of 1,602,406 shares during the same period.