Fifth Third Bancorp [NASDAQ: FITB] stock went on an upward path that rose over 0.29% on Wednesday, amounting to a one-week price decrease of less than -0.29%.
Over the last 12 months, FITB stock rose by 71.35%. The one-year Fifth Third Bancorp stock forecast points to a potential upside of 6.34. The average equity rating for FITB stock is currently 1.95, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $28.41 billion, with 681.12 million shares outstanding and 673.33 million shares in the current float. Compared to the average trading volume of 4.20M shares, FITB stock reached a trading volume of 3152572 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $44.82 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 1.95. 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.
Wolfe Research have made an estimate for Fifth Third Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 31, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price from $37.50 to $39.50. The new note on the price target was released on May 01, 2024, representing the official price target for Fifth Third Bancorp stock. Previously, the target price had yet another raise to $32, while Robert W. Baird analysts kept a Neutral rating on FITB stock.
The Average True Range (ATR) for Fifth Third Bancorp is set at 0.93, with the Price to Sales ratio for FITB stock in the period of the last 12 months amounting to 2.14. The Price to Book ratio for the last quarter was 1.67. Price to Free Cash Flow for FITB in the course of the last twelve months was 8.12.
FITB Stock Performance Analysis:
Fifth Third Bancorp [FITB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.29. With this latest performance, FITB shares dropped by -1.20% in over the last four-week period, additionally plugging by 17.13% over the last 6 months – not to mention a rise of 71.35% 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 49.43, with the RSI for the last a single of trading hit 44.91, and the three-weeks RSI is set at 52.00 for Fifth Third Bancorp [FITB]. The present Moving Average for the last 50 days of trading for this stock 41.45, while it was recorded at 42.51 for the last single week of trading, and 37.30 for the last 200 days.
Insight into Fifth Third Bancorp Fundamentals:
Fifth Third Bancorp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.27.
FITB Stock EPS
With the latest financial reports released by the company, Fifth Third Bancorp posted 0.91/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.09. 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 1.70%.
Fifth Third Bancorp [FITB] Institutonal Ownership Details
There are presently around $87.62%, or 88.13%% of FITB stock, in the hands of institutional investors. The top three institutional holders of FITB stocks are: VANGUARD GROUP INC with ownership of 83.1 million shares, which is approximately 12.1186%. BLACKROCK INC., holding 58.11 million shares of the stock with an approximate value of $$2.12 billion in FITB stocks shares; and BLACKROCK INC., currently with $$1.6 billion in FITB stock with ownership which is approximately 6.3846%.
