Fifth Third Bancorp [NASDAQ: FITB] closed the trading session at $35.84. The company report on March 29, 2024 at 8:00 AM that Fifth Third Wealth Advisors Surpasses $1 Billion in Assets Under Management.
In less than 18 months since announcing its launch, Fifth Third Bank’s independent Registered Investment Advisor, Fifth Third Wealth Advisors, has exceeded $1 billion in assets under management (AUM).
“This milestone is a result of the dedication of our teams who bring the utmost in tailored solutions and service and their clients who place their trust in us,” said Eric Housman, president Fifth Third Wealth Advisors.
The stocks have a year to date performance of 3.91 percent and weekly performance of -0.53 percent. The stock has been moved at 46.29 percent over the last six months. The stock has performed 1.01 percent around the most recent 30 days and changed 3.05 percent over the most recent 3-months.
If compared to the average trading volume of 5.59M shares, FITB reached to a volume of 3221838 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 $39.59 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 2.04. 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.
Robert W. Baird have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 01, 2024. The new note on the price target was released on March 19, 2024, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise from $33 to $37, while Keefe Bruyette kept a Mkt Perform rating on FITB stock.
The Average True Range (ATR) for Fifth Third Bancorp is set at 0.82, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 1.43. Price to Free Cash Flow for FITB in the course of the last twelve months was 6.96.
FITB stock trade performance evaluation
Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.53. With this latest performance, FITB shares gained by 1.01% in over the last four-week period, additionally plugging by 46.29% over the last 6 months – not to mention a rise of 34.53% 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 50.47, with the RSI for the last a single of trading hit 46.36, and the three-weeks RSI is set at 52.66 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 34.95, while it was recorded at 36.49 for the last single week of trading, and 29.70 for the last 200 days.
Fifth Third Bancorp [FITB]: An insightful look at the core fundamentals
Fifth Third Bancorp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.29.
Earnings per share (EPS) analysis for Fifth Third Bancorp [FITB] stock
With the latest financial reports released by the company, Fifth Third Bancorp posted 0.78/share EPS, while the average EPS was predicted by analysts to be reported at 0.79/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.30%. 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%.
Fifth Third Bancorp [FITB]: Institutional Ownership
The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in FITB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in FITB stock with ownership which is approximately 5.8386%.
