Fifth Third Bancorp [FITB] Revenue clocked in at $5.81 billion, down -20.30% YTD: What’s Next?

Fifth Third Bancorp [NASDAQ: FITB] price plunged by -3.04 percent to reach at -$1.09. The company report on November 2, 2022 that Fifth Third Bank to Increase Prime Lending Rate to 7.00%.

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Fifth Third Bank, National Association, today announced it will increase its prime lending rate to 7.00%, effective immediately.

The rate was last changed on Sept. 21, 2022, when Fifth Third increased its prime lending rate from 5.50% to 6.25%.

A sum of 4686565 shares traded at recent session while its average daily volume was at 4.29M shares. Fifth Third Bancorp shares reached a high of $36.10 and dropped to a low of $34.66 until finishing in the latest session at $34.71.

The one-year FITB stock forecast points to a potential upside of 13.18. The average equity rating for FITB stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $39.98 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 1.20, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 4.03. 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 16.53. Price to Free Cash Flow for FITB in the course of the last twelve months was 6.62.

FITB Stock Performance Analysis:

Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.25. With this latest performance, FITB shares gained by 1.20% in over the last four-week period, additionally sinking by -12.10% over the last 6 months – not to mention a drop of -21.11% 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 51.85, with the RSI for the last a single of trading hit 51.11, and the three-weeks RSI is set at 51.47 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.15, while it was recorded at 35.51 for the last single week of trading, and 38.41 for the last 200 days.

Insight into Fifth Third Bancorp Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Fifth Third Bancorp [FITB] shares currently have an operating margin of +41.74. Fifth Third Bancorp’s Net Margin is presently recorded at +33.93.

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


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 5.04%.

Fifth Third Bancorp [FITB] Insider Position Details

There are presently around $19,564 million, or 83.30% 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 0.10% 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.

Positions in Fifth Third Bancorp stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 367 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 42,497,211 shares. Additionally, 415 investors decreased positions by around 29,397,824 shares, while 189 investors held positions by with 491,757,581 shares. The mentioned changes placed institutional holdings at 563,652,616 shares, according to the latest SEC report filing. FITB stock had 68 new institutional investments in for a total of 5,003,526 shares, while 107 institutional investors sold positions of 5,170,411 shares during the same period.


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