Fifth Third Bancorp [NASDAQ: FITB] loss -1.29% or -0.36 points to close at $27.48 with a heavy trading volume of 8428748 shares. The company report on April 20, 2023 at 6:30 AM that Fifth Third Reports First Quarter 2023 Diluted Earnings Per Share of $0.78.
Average and period-end total deposits were flat compared to the prior quarter.
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Credit quality remains strong with net charge-off ratio of 0.26% and early stage delinquencies of 0.26%.
It opened the trading session at $27.98, the shares rose to $27.98 and dropped to $27.28, the range by which the price of stock traded the whole day. The daily chart for FITB points out that the company has recorded -17.38% loss over the past six months. However, it is still -24.29% lower than its most recent low trading price.
If we look at the average trading volume of 9.26M shares, FITB reached to a volume of 8428748 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 $34.21 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 1.08, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.51. 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 17.79. Price to Free Cash Flow for FITB in the course of the last twelve months was 4.27.
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 3.93. With this latest performance, FITB shares gained by 6.10% in over the last four-week period, additionally sinking by -17.38% over the last 6 months – not to mention a drop of -32.43% 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 48.30, with the RSI for the last a single of trading hit 54.82, and the three-weeks RSI is set at 44.70 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 30.34, while it was recorded at 27.57 for the last single week of trading, and 33.45 for the last 200 days.
Fifth Third Bancorp [FITB]: A deeper dive into fundamental analysis
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.
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 4.84%.
An analysis of insider ownership at Fifth Third Bancorp [FITB]
There are presently around $15,274 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 $1.52 billion in FITB stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.03 billion 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 387 institutional holders increased their position in Fifth Third Bancorp [NASDAQ:FITB] by around 37,104,600 shares. Additionally, 372 investors decreased positions by around 38,036,100 shares, while 164 investors held positions by with 480,685,157 shares. The mentioned changes placed institutional holdings at 555,825,857 shares, according to the latest SEC report filing. FITB stock had 93 new institutional investments in for a total of 4,342,406 shares, while 72 institutional investors sold positions of 1,505,351 shares during the same period.