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 709.73M with Short Float at 1.46%. Institutions hold 81.73% of the Float.
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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 56.4 million shares representing 7.92% and valued at over $1.55 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 (NASDAQ: FITB) is 25.28% higher on its value in year-to-date trading and has touched a low of $11.10 and a high of $33.92 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FITB stock was last observed hovering at around $33.22 in the last trading session, with the day’s gains setting it 1.32% off its average median price target of $35.20 for the next 12 months. It is also 11.44% off the consensus price target high of $39.00 offered by 23 analysts, but current levels are -23.36% lower than the price target low of $28.00 for the same period.
Currently trading at $34.54, the stock is 10.28% and 16.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.68 million and changing 3.97% at the moment leaves the stock 47.45% off its SMA200. FITB registered 15.79% gain for a year compared to 6-month gain of 71.33%. The firm has a 50-day simple moving average (SMA 50) of $31.25 and a 200-day simple moving average (SMA200) of $25.44.
The stock witnessed a 10.25% loss in the last 1 month and extending the period to 3 months gives it a 32.59%, and is 7.10% 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 2.90% over the week and 2.90% over the month.
Fifth Third Bancorp (FITB) has around 19869 employees, a market worth around $23.67B and $5.57B in sales. Current P/E ratio is 18.88 and Fwd P/E is 11.40. Profit margin for the company is 25.30%. Distance from 52-week low is 211.17% and 1.83% 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 1.90, where 7 rate it as a Hold and 1 think it is a “Overweight”. 15 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 $0.64 with sales reaching $1.89B over the same period.The EPS is expected to grow by 9.00% this year, but quarterly earnings will post -0.20% year-over-year. Quarterly sales are estimated to shrink -0.80% in year-over-year returns.
Fifth Third Bancorp (FITB) Insider Activity
A total of 59 insider transactions have happened at Fifth Third Bancorp (FITB) in the last six months, with sales accounting for 54 and purchases happening 5 times. The most recent transaction is an insider sale by Shaffer Robert P, the company’s EVP. SEC filings show that Shaffer Robert P sold 8,900 shares of the company’s common stock on Jan 29 at a price of $28.96 per share for a total of $0.26 million. Following the sale, the insider now owns 50594.0 shares.
Fifth Third Bancorp disclosed in a document filed with the SEC on Nov 23 that Lavender Kevin P (EVP) sold a total of 8,500 shares of the company’s common stock. The trade occurred on Nov 23 and was made at $25.81 per share for $0.22 million. Following the transaction, the insider now directly holds 71677.0 shares of the FITB stock.
Still, SEC filings show that on Nov 11, Stein Richard L. (EVP) disposed off 100 shares at an average price of $25.76 for $2576.0. The insider now directly holds 0 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 -0.89% down over the past 12 months. Wells Fargo & Company (WFC) is -20.09% down on the 1-year trading charts. Short interest in the company’s stock has risen 28.93% from the last report on Dec 30, 2020 to stand at a total of 7.37 million short shares sold with a short interest ratio of 2.1.