Fifth Third Bancorp [FITB] Stock trading around $32.72 per share: What’s Next?

Fifth Third Bancorp [NASDAQ: FITB] closed the trading session at $32.72 on 12/28/22. The day’s price range saw the stock hit a low of $32.53, while the highest price level was $33.015. The company report on December 14, 2022 that Fifth Third Bank to Increase Prime Lending Rate to 7.50%.

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Fifth Third Bank, National Association, today announced it will increase its prime lending rate to 7.50%, effective immediately.

The rate was last changed on Nov. 2, 2022, when Fifth Third increased its prime lending rate from 6.25% to 7.00%.

The stocks have a year to date performance of -24.87 percent and weekly performance of 3.25 percent. The stock has been moved at -4.36 percent over the last six months. The stock has performed -8.06 percent around the most recent 30 days and changed 0.55 percent over the most recent 3-months.

If compared to the average trading volume of 4.82M shares, FITB reached to a volume of 4184539 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 $40.46 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.

DA Davidson have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 21, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on December 05, 2022, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $39, while Wedbush analysts kept a Outperform rating on FITB stock.

The Average True Range (ATR) for Fifth Third Bancorp is set at 0.78, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 14.81. Price to Free Cash Flow for FITB in the course of the last twelve months was 5.03.

FITB stock trade performance evaluation

Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.25. With this latest performance, FITB shares dropped by -8.06% in over the last four-week period, additionally sinking by -4.36% over the last 6 months – not to mention a drop of -25.26% 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 44.76, with the RSI for the last a single of trading hit 48.18, and the three-weeks RSI is set at 44.91 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.33, while it was recorded at 32.41 for the last single week of trading, and 36.09 for the last 200 days.

Fifth Third Bancorp [FITB]: An insightful look at the core 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.

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 5.04%.

Fifth Third Bancorp [FITB]: Insider Ownership positions

There are presently around $18,378 million, or 83.00% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 85,547,660, which is approximately 0.935% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 54,344,683 shares of the stock with an approximate value of $1.78 billion in FITB stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.4 billion in FITB stock with ownership of nearly -13.084% 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 382 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 26,541,784 shares. Additionally, 372 investors decreased positions by around 31,943,942 shares, while 171 investors held positions by with 503,203,441 shares. The mentioned changes placed institutional holdings at 561,689,167 shares, according to the latest SEC report filing. FITB stock had 54 new institutional investments in for a total of 3,232,750 shares, while 93 institutional investors sold positions of 5,207,217 shares during the same period.

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