Fifth Third Bancorp [FITB] stock Initiated by DA Davidson analyst, price target now $36

Fifth Third Bancorp [NASDAQ: FITB] traded at a low on 01/18/23, posting a -4.08 loss after which it closed the day’ session at $32.72. The company report on January 12, 2023 that Private Foundations in The Foundation Office at Fifth Third Bank Announce More Than $6.5 Million in 2022 Grants.


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Nine private family foundations in The Foundation Office at Fifth Third Bank, National Association, announced grants totaling more than $6.5 million in 2022. Grants were awarded to organizations that focus on education, arts and culture, civic and community programs, health and human services, and community reinvestment activities that benefit low- to moderate-income earners, small businesses, affordable housing, financial literacy and workforce development efforts.

“It is our honor to guide the philanthropic foundations of so many families,” said Heidi B. Jark, senior vice president and managing director of The Foundation Office at Fifth Third Bank. “It’s a privilege to know they have entrusted this work to our office. In times of economic uncertainty, we work diligently to ensure these organizations fulfill their mission of giving back to worthy charitable causes.”.

The results of the trading session contributed to over 8834990 shares changing hands. Over the past one week, the price volatility of Fifth Third Bancorp stands at 2.41% while the volatility over the past one month is 2.08%.

The market cap for FITB stock reached $22.63 billion, with 689.28 million shares outstanding and 683.07 million shares in the current float. Compared to the average trading volume of 4.78M shares, FITB reached a trading volume of 8834990 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 $39.85 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 0.84, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 3.90. 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 14.57. Price to Free Cash Flow for FITB in the course of the last twelve months was 5.11.

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 -5.05. With this latest performance, FITB shares gained by 2.47% in over the last four-week period, additionally sinking by -5.62% over the last 6 months – not to mention a drop of -35.14% 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 42.70, with the RSI for the last a single of trading hit 38.45, and the three-weeks RSI is set at 44.59 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.12, while it was recorded at 34.14 for the last single week of trading, and 35.30 for the last 200 days.

Fifth Third Bancorp [FITB]: Deeper insight into the 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 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 4.84%.

Insider trade positions for Fifth Third Bancorp [FITB]

There are presently around $18,191 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 January and at the time of the January reporting period, where 386 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 26,604,251 shares. Additionally, 371 investors decreased positions by around 31,603,762 shares, while 164 investors held positions by with 497,755,804 shares. The mentioned changes placed institutional holdings at 555,963,817 shares, according to the latest SEC report filing. FITB stock had 61 new institutional investments in for a total of 3,242,660 shares, while 90 institutional investors sold positions of 4,964,177 shares during the same period.

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