Fifth Third Bancorp (NASDAQ: FITB) is 34.86% higher on its value in year-to-date trading and has touched a low of $13.15 and a high of $40.46 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 $38.44 in the last trading session, with the day’s loss setting it -1.26% off its average median price target of $37.00 for the next 12 months. It is also 17.38% off the consensus price target high of $45.00 offered by 23 analysts, but current levels are -32.79% lower than the price target low of $28.00 for the same period.
Currently trading at $37.18, the stock is -0.61% and 8.52% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.3 million and changing -3.28% at the moment leaves the stock 44.49% off its SMA200. FITB registered 116.79% gain for a year compared to 6-month gain of 81.63%. The firm has a 50-day simple moving average (SMA 50) of $35.93 and a 200-day simple moving average (SMA200) of $28.37.
The stock witnessed a 7.18% loss in the last 1 month and extending the period to 3 months gives it a 34.81%, and is -0.11% 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 3.65% over the week and 3.52% over the month.
Fifth Third Bancorp (FITB) has around 19872 employees, a market worth around $25.95B and $5.57B in sales. Current P/E ratio is 20.35 and Fwd P/E is 12.02. Profit margin for the company is 23.60%. Distance from 52-week low is 182.74% and -8.11% from its 52-week high. The company has generated returns on investments over the last 12 months (12.30%).
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 $0.65 with sales reaching $1.9B over the same period.The EPS is expected to shrink by -45.10% this year, but quarterly earnings will post 0.10% year-over-year. Quarterly sales are estimated to shrink -0.40% in year-over-year returns.
Fifth Third Bancorp (FITB) Top Institutional Holders
898 institutions hold shares in Fifth Third Bancorp (FITB), with 2.25M shares held by insiders accounting for 0.32% while institutional investors hold 81.99% of the company’s shares. The shares outstanding are 715.49M, and float is at 710.07M with Short Float at 1.79%. Institutions hold 81.73% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 82.39 million shares valued at $2.27 billion. The investor’s holdings represent 11.59% of the FITB Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 56.4 million shares valued at $1.55 billion to account for 7.93% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 54.4 million shares representing 7.65% and valued at over $1.5 billion, while State Street Corporation holds 5.18% of the shares totaling 36.84 million with a market value of $1.02 billion.
Fifth Third Bancorp (FITB) Insider Activity
A total of 98 insider transactions have happened at Fifth Third Bancorp (FITB) in the last six months, with sales accounting for 71 and purchases happening 27 times. The most recent transaction is an insider sale by FEIGER MITCHELL ,the company’sDirector. SEC filings show that FEIGER MITCHELL sold 60,000 shares of the company’s common stock on Mar 15 at a price of $38.20 per share for a total of $2.29 million. Following the sale, the insider now owns 0.26 million shares.
Fifth Third Bancorp disclosed in a document filed with the SEC on Mar 12 that Jula Margaret B. (EVP) sold a total of 19,918 shares of the company’s common stock. The trade occurred on Mar 12 and was made at $39.01 per share for $0.78 million. Following the transaction, the insider now directly holds 33259.0 shares of the FITB stock.
Still, SEC filings show that on Mar 10, Hoover Jewell D (Director) disposed off 8,080 shares at an average price of $37.54 for $0.3 million. The insider now directly holds 35,823 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 77.36% up over the past 12 months and The PNC Financial Services Group Inc. (PNC) that is 74.26% higher over the same period. Wells Fargo & Company (WFC) is 26.95% up on the 1-year trading charts. Short interest in the company’s stock has risen 22.03% from the last report on Feb 11, 2021 to stand at a total of 9.91 million short shares sold with a short interest ratio of 1.72.