Fifth Third Bancorp [FITB] is -20.25% lower this YTD. Is it still time to buy?

Fifth Third Bancorp [NASDAQ: FITB] gained 2.27% on the last trading session, reaching $34.73 price per share at the time. The company report on October 5, 2022 that Fifth Third Foundation Donates $500,000 for Hurricane Relief in Florida.


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The Fifth Third Foundation has contributed $500,000 to support relief efforts for those impacted by Hurricane Ian, which made landfall in Florida on Sept. 28.

Fifth Third Bancorp represents 689.02 million in outstanding shares, while the company has a total market value of $24.11 billion with the latest information. FITB stock price has been found in the range of $34.435 to $35.24.

If compared to the average trading volume of 4.32M shares, FITB reached a trading volume of 5595304 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $41.38 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.

Wedbush have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 28, 2022. The new note on the price target was released on June 17, 2022, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $52, while Wells Fargo analysts kept a Overweight rating on FITB stock. On April 07, 2022, analysts decreased their price target for FITB shares from 59 to 47.

The Average True Range (ATR) for Fifth Third Bancorp is set at 1.27, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 4.51. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 16.06. Price to Free Cash Flow for FITB in the course of the last twelve months was 6.06.

Trading performance analysis for FITB stock

Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.31. With this latest performance, FITB shares dropped by -0.86% in over the last four-week period, additionally sinking by -11.11% over the last 6 months – not to mention a drop of -20.34% 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 55.93, with the RSI for the last a single of trading hit 60.80, and the three-weeks RSI is set at 53.25 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.59, while it was recorded at 33.54 for the last single week of trading, and 39.21 for the last 200 days.

Fifth Third Bancorp [FITB]: An earnings per share (EPS) analysis

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 6.20%.

An analysis of insider ownership at Fifth Third Bancorp [FITB]

There are presently around $19,581 million, or 83.40% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 84,755,080, which is approximately 2.106% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 55,290,594 shares of the stock with an approximate value of $1.92 billion in FITB stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.71 billion in FITB stock with ownership of nearly 21.775% of the company’s market capitalization.

375 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 43,029,548 shares. Additionally, 428 investors decreased positions by around 28,972,869 shares, while 185 investors held positions by with 491,808,468 shares. The mentioned changes placed institutional holdings at 563,810,885 shares, according to the latest SEC report filing. FITB stock had 69 new institutional investments in for a total of 5,373,483 shares, while 124 institutional investors sold positions of 5,410,765 shares during the same period.

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