Fifth Third Bancorp [NASDAQ: FITB] jumped around 0.88 points on Monday, while shares priced at $27.32 at the close of the session, up 3.33%. The company report on April 11, 2023 that Fifth Third Bank Launches Rate Drop Protector for Mortgages.
The homeownership journey can be intimidating, especially as mortgage rates have nearly doubled over the past 18 months. To help alleviate concerns about fluctuating rates as the Federal Reserve works to tame inflation, Fifth Third Bank, National Association, is now offering the Rate Drop Protector program.
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The Rate Drop Protector program allows prospective homebuyers to purchase a home and lock in rates today, knowing that if rates decrease in the future, Fifth Third will waive all applicable lender closing costs on the subsequent refinance transaction.
Fifth Third Bancorp stock is now -16.73% down from its year-to-date (YTD) trading value. FITB Stock saw the intraday high of $27.35 and lowest of $25.92 per share. The company’s 52-week high price is 41.87, which means current price is +23.56% above from all time high which was touched on 02/02/23.
Compared to the average trading volume of 9.22M shares, FITB reached a trading volume of 8606532 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 $34.32 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.
Keefe Bruyette have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 06, 2023. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on December 21, 2022, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $37, while Morgan Stanley analysts kept a Equal-Weight rating on FITB stock.
The Average True Range (ATR) for Fifth Third Bancorp is set at 1.17, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.83. The Price to Book ratio for the last quarter was 1.24, with the Price to Cash per share for the same quarter was set at 17.94. Price to Free Cash Flow for FITB in the course of the last twelve months was 3.62.
How has FITB stock performed recently?
Fifth Third Bancorp [FITB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.92. With this latest performance, FITB shares gained by 3.25% in over the last four-week period, additionally sinking by -20.47% over the last 6 months – not to mention a drop of -30.85% 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 47.14, with the RSI for the last a single of trading hit 56.31, and the three-weeks RSI is set at 43.33 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 31.14, while it was recorded at 26.65 for the last single week of trading, and 33.57 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 +31.21. Fifth Third Bancorp’s Net Margin is presently recorded at +25.40.
Return on Total Capital for FITB is now 7.94, given the latest momentum, and Return on Invested Capital for the company is 6.91. Return on Equity for this stock inclined to 10.35, with Return on Assets sitting at 1.17. When it comes to the capital structure of this company, Fifth Third Bancorp [FITB] has a Total Debt to Total Equity ratio set at 60.11. Additionally, FITB Total Debt to Total Capital is recorded at 37.54, with Total Debt to Total Assets ending up at 7.26. Long-Term Debt to Equity for the company is recorded at 56.95, with the Long-Term Debt to Total Capital now at 32.56.
Reflecting on the efficiency of the workforce at the company, Fifth Third Bancorp [FITB] managed to generate an average of $126,508 per employee.
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 $14,712 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 86,386,101, which is approximately 0.98% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 55,320,766 shares of the stock with an approximate value of $1.46 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $990.9 million in FITB stock with ownership of nearly 23.219% of the company’s market capitalization.
Positions in Fifth Third Bancorp stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 394 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 36,784,502 shares. Additionally, 367 investors decreased positions by around 36,788,128 shares, while 163 investors held positions by with 482,847,437 shares. The mentioned changes placed institutional holdings at 556,420,067 shares, according to the latest SEC report filing. FITB stock had 104 new institutional investments in for a total of 4,278,593 shares, while 59 institutional investors sold positions of 1,402,899 shares during the same period.