Fifth Third Bancorp [FITB] Is Currently 0.41 below its 200 Period Moving Avg: What Does This Mean?



Fifth Third Bancorp [NASDAQ: FITB] traded at a high on 06/14/22, posting a 0.41 gain after which it closed the day’ session at $34.58. The company report on June 14, 2022 that Fifth Third Bancorp Announces Cash Dividends.

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Today Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series H preferred shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares.

Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its common shares of $0.30 per share for the second quarter of 2022. The dividend is payable on July 15, 2022 to shareholders of record as of June 30, 2022.

The results of the trading session contributed to over 5536755 shares changing hands. Over the past one week, the price volatility of Fifth Third Bancorp stands at 2.95% while the volatility over the past one month is 2.82%.

The market cap for FITB stock reached $24.98 billion, with 687.54 million shares outstanding and 682.77 million shares in the current float. Compared to the average trading volume of 5.94M shares, FITB reached a trading volume of 5536755 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 $47.75 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 2.10. 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 1.24, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 4.80. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 33.09. Price to Free Cash Flow for FITB in the course of the last twelve months was 7.07.

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 -12.59. With this latest performance, FITB shares dropped by -3.86% in over the last four-week period, additionally sinking by -18.44% over the last 6 months – not to mention a drop of -13.68% 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 33.71, with the RSI for the last a single of trading hit 27.75, and the three-weeks RSI is set at 36.64 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 38.21, while it was recorded at 36.23 for the last single week of trading, and 42.82 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 5.62%.

Insider trade positions for Fifth Third Bancorp [FITB]

There are presently around $18,933 million, or 81.70% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 83,006,961, which is approximately -0.04% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 54,231,343 shares of the stock with an approximate value of $1.87 billion in FITB stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.39 billion in FITB stock with ownership of nearly 60.13% of the company’s market capitalization.

418 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 37,167,401 shares. Additionally, 383 investors decreased positions by around 46,183,466 shares, while 214 investors held positions by with 466,376,966 shares. The mentioned changes placed institutional holdings at 549,727,833 shares, according to the latest SEC report filing. FITB stock had 96 new institutional investments in for a total of 4,670,071 shares, while 68 institutional investors sold positions of 2,411,914 shares during the same period.