For Fifth Third Bancorp [FITB], Analyst sees a rise to $52. What next?


Fifth Third Bancorp [NASDAQ: FITB] plunged by -$0.22 during the normal trading session on Tuesday and reaching a high of $37.395 during the day while it closed the day at $36.58. The company report on May 10, 2022 that Fifth Third Completes Acquisition of Dividend Finance, Leading Lender in High Growth Solar, Sustainable Solutions.

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Fifth Third Bancorp (NASDAQ: FITB) today announced it has closed on the acquisition of Dividend Finance, a leading fintech point-of-sale (POS) lender, providing financing solutions for residential renewable energy and sustainability-focused home improvement.

Fifth Third Bancorp stock has also loss -4.52% of its value over the past 7 days. However, FITB stock has declined by -26.10% in the 3 months of the year. Over the past six months meanwhile, it has lost -17.35% and lost -16.00% year-on date.

The market cap for FITB stock reached $25.40 billion, with 688.22 million shares outstanding and 682.14 million shares in the current float. Compared to the average trading volume of 6.71M shares, FITB reached a trading volume of 6243292 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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.

Wells Fargo have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, Wolfe Research dropped their target price from $59 to $47. The new note on the price target was released on April 07, 2022, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another drop from $56 to $50, while Morgan Stanley kept a Equal-Weight rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 1.35, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 4.88. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 59.03.

FITB stock trade performance evaluation

Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.52. With this latest performance, FITB shares dropped by -9.79% in over the last four-week period, additionally sinking by -17.35% over the last 6 months – not to mention a drop of -12.13% 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 34.56, with the RSI for the last a single of trading hit 33.09, and the three-weeks RSI is set at 36.12 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 42.04, while it was recorded at 37.67 for the last single week of trading, and 42.87 for the last 200 days.

Earnings per share (EPS) analysis for Fifth Third Bancorp [FITB] stock

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 5.62%.

Fifth Third Bancorp [FITB]: Insider Ownership positions

There are presently around $20,180 million, or 82.60% 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 $1.97 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.74 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 409 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 16,956,383 shares. Additionally, 365 investors decreased positions by around 36,871,759 shares, while 207 investors held positions by with 494,552,480 shares. The mentioned changes placed institutional holdings at 548,380,622 shares, according to the latest SEC report filing. FITB stock had 114 new institutional investments in for a total of 3,248,639 shares, while 54 institutional investors sold positions of 1,393,188 shares during the same period.