The decline in Fifth Third Bancorp (FITB) stock price is a huge buying opportunity

Fifth Third Bancorp (NASDAQ: FITB) is -33.93% lower on its value in year-to-date trading and has touched a low of $11.10 and a high of $31.64 in the current 52-week trading range. The FITB stock was last observed hovering at around $20.71 in the last trading session, with the day’s loss setting it -0.4%.

Currently trading at $20.31, the stock is 0.10% and 2.82% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.0 million and changing -1.93% at the moment leaves the stock -11.13% off its SMA200. FITB registered -19.72% loss for a year compared to 6-month loss of -19.37%. The firm has a 50-day simple moving average (SMA 50) of $19.63 and a 200-day simple moving average (SMA200) of $19.63.

The stock witnessed a 5.40% gain in the last 1 month and extending the period to 3 months gives it a 0.89%, and is 0.74% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.83% over the week and 3.22% over the month.

Fifth Third Bancorp (FITB) has around 19869 employees, a market worth around $14.63B and $6.11B in sales. Current P/E ratio is 10.47 and Fwd P/E is 10.75. Profit margin for the company is 23.10%. Distance from 52-week low is 82.97% and -35.81% from its 52-week high. The company has generated returns on investments over the last 12 months (10.60%).

Fifth Third Bancorp (FITB) Analyst Forecasts

Fifth Third Bancorp is expected to release its quarterly report on 10/22/2020 and quarterly earnings per share for the current quarter are estimated at $0.49 with sales reaching $1.85B over the same period.The EPS is expected to grow by 9.00% this year, but quarterly earnings will post -9.50% year-over-year. Quarterly sales are estimated to shrink -6.70% in year-over-year returns.

Fifth Third Bancorp (FITB) Top Institutional Holders

1,000 institutions hold shares in Fifth Third Bancorp (FITB), with 2.1M shares held by insiders accounting for 0.29% while institutional investors hold 80.25% of the company’s shares. The shares outstanding are 714.77M, and float is at 710.12M with Short Float at 1.37%. Institutions hold 80.02% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 74.66 million shares valued at $1.44 billion. The investor’s holdings represent 10.48% of the FITB Shares outstanding. As of Jun 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 66.85 million shares valued at $1.29 billion to account for 9.39% of the shares outstanding. The other top investors are Blackrock Inc. which holds 57.41 million shares representing 8.06% and valued at over $1.11 billion, while Bank of America Corporation holds 4.80% of the shares totaling 34.15 million with a market value of $658.49 million.

Fifth Third Bancorp (FITB) Insider Activity

A total of 35 insider transactions have happened at Fifth Third Bancorp (FITB) in the last six months, with sales accounting for 11 and purchases happening 24 times. The most recent transaction is an insider sale by Hoover Jewell D, the company’s Director. SEC filings show that Hoover Jewell D sold 10,036 shares of the company’s common stock on Aug 07 at a price of $20.39 per share for a total of $0.2 million. Following the sale, the insider now owns 47941.0 shares.

Fifth Third Bancorp disclosed in a document filed with the SEC on Mar 13 that Blackburn Katherine H. (Director) bought a total of 58,800 shares of the company’s common stock. The trade occurred on Mar 13 and was made at $16.90 per share for $0.99 million. Following the transaction, the insider now directly holds 0.1 million shares of the FITB stock.

Still, SEC filings show that on Mar 12, Leonard James C. (EVP & Chief Risk Officer) acquired 6,300 shares at an average price of $16.00 for $0.1 million. The insider now directly holds 94,868 shares of Fifth Third Bancorp (FITB).

Fifth Third Bancorp (FITB): Who are the competitors?

The company’s main competitors (and peers) include Bank of America Corporation (BAC) that is trading -3.44% down over the past 12 months. Wells Fargo & Company (WFC) is -46.28% down on the 1-year trading charts. Short interest in the company’s stock has fallen -8.14% from the last report on Jul 14, 2020 to stand at a total of 11.29 million short shares sold with a short interest ratio of 1.9.