Fifth Third Bancorp (NASDAQ: FITB) is -10.31% lower on its value in year-to-date trading and has touched a low of $11.10 and a high of $31.02 in the current 52-week trading range. The FITB stock was last observed hovering at around $27.28 in the last trading session, with the day’s gains setting it 0.29% off its average median price target of $29.00 for the next 12 months. It is also 18.91% off the consensus price target high of $34.00 offered by 23 analysts, but current levels are -19.87% lower than the price target low of $23.00 for the same period.
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Currently trading at $27.57, the stock is 1.26% and 6.86% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.5 million and changing 1.06% at the moment leaves the stock 31.68% off its SMA200. FITB registered -11.12% loss for a year compared to 6-month gain of 48.47%. The firm has a 50-day simple moving average (SMA 50) of $26.84 and a 200-day simple moving average (SMA200) of $22.51.
The stock witnessed a 5.23% loss in the last 1 month and extending the period to 3 months gives it a 31.10%, and is -0.58% down 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 1.95% over the week and 2.50% over the month.
Fifth Third Bancorp (FITB) has around 19869 employees, a market worth around $19.43B and $5.82B in sales. Current P/E ratio is 13.76 and Fwd P/E is 11.97. Profit margin for the company is 24.90%. Distance from 52-week low is 148.38% and -11.12% 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
Analyst recommendations provided by FactSet shows that the consensus forecast for Fifth Third Bancorp (FITB) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.00, where 8 rate it as a Hold and 1 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Fifth Third Bancorp is expected to release its quarterly report on 04/20/2021 and quarterly earnings per share for the current quarter are estimated at $0.68 with sales reaching $1.91B over the same period.The EPS is expected to grow by 9.00% this year, but quarterly earnings will post -9.00% year-over-year. Quarterly sales are estimated to shrink -15.50% in year-over-year returns.
Fifth Third Bancorp (FITB) Top Institutional Holders
898 institutions hold shares in Fifth Third Bancorp (FITB), with 2.27M shares held by insiders accounting for 0.32% while institutional investors hold 81.99% of the company’s shares. The shares outstanding are 715.10M, and float is at 710.15M with Short Float at 1.42%. Institutions hold 81.73% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 83.71 million shares valued at $1.78 billion. The investor’s holdings represent 11.75% of the FITB Shares outstanding. As of Sep 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 65.1 million shares valued at $1.39 billion to account for 9.14% of the shares outstanding. The other top investors are Blackrock Inc. which holds 56.83 million shares representing 7.98% and valued at over $1.21 billion, while State Street Corporation holds 4.85% of the shares totaling 34.56 million with a market value of $736.89 million.
Fifth Third Bancorp (FITB) Insider Activity
The most recent transaction is an insider sale by Lavender Kevin P, the company’s EVP. SEC filings show that Lavender Kevin P sold 8,500 shares of the company’s common stock on Nov 23 at a price of $25.81 per share for a total of $0.22 million. Following the sale, the insider now owns 71677.0 shares.
Fifth Third Bancorp disclosed in a document filed with the SEC on Nov 11 that Stein Richard L. (EVP) sold a total of 100 shares of the company’s common stock. The trade occurred on Nov 11 and was made at $25.76 per share for $2576.0. Following the transaction, the insider now directly holds 0.0 shares of the FITB stock.
Still, SEC filings show that on Aug 07, Hoover Jewell D (Director) disposed off 10,036 shares at an average price of $20.39 for $0.2 million. The insider now directly holds 47,941 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 -14.96% down over the past 12 months. Wells Fargo & Company (WFC) is -43.85% down on the 1-year trading charts. Short interest in the company’s stock has risen 0.89% from the last report on Nov 12, 2020 to stand at a total of 10.02 million short shares sold with a short interest ratio of 1.85.