Fifth Third Bancorp (NASDAQ: FITB) is -1.51% lower on its value in year-to-date trading and has touched a low of $22.11 and a high of $36.78 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FITB stock was last observed hovering at around $33.27 in the last trading session, with the day’s gains setting it 0.7%.
Currently trading at $33.97, the stock is 0.55% and -0.83% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.68 million and changing 2.10% at the moment leaves the stock 19.89% off its SMA200. FITB registered -6.44% loss for a year compared to 6-month gain of 33.63%.
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The stock witnessed a -2.55% loss in the last 1 month and extending the period to 3 months gives it a 24.66%, and is 0.50% 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 2.01% over the week and 2.36% over the month.
Fifth Third Bancorp (FITB) has around 18724 employees, a market worth around $23.13B and $12.49B in sales. Current P/E ratio is 10.56 and Fwd P/E is 9.69. Profit margin for the company is 17.71%. Distance from 52-week low is 53.64% and -7.65% from its 52-week high. The company has generated returns on investments over the last 12 months (6.22%).
Fifth Third Bancorp quarterly earnings per share for the current quarter are estimated at $0.67 with sales reaching $2.09B over the same period.The EPS is expected to shrink by -0.80% this year, but quarterly earnings will post -0.80% year-over-year. Quarterly sales are estimated to shrink -6.30% in year-over-year returns.
Fifth Third Bancorp (FITB) Top Institutional Holders
1,170 institutions hold shares in Fifth Third Bancorp (FITB), with institutional investors hold 85.81% of the company’s shares. The shares outstanding are 681.12M, and float is at 676.81M with Short Float at 2.47%. Institutions hold 85.37% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 87.13 million shares valued at $2.28 billion. The investor’s holdings represent 12.80% of the FITB Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 59.03 million shares valued at $1.55 billion to account for 8.67% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 44.88 million shares representing 6.59% and valued at over $1.18 billion, while State Street Corporation holds 4.66% of the shares totaling 31.75 million with a market value of $832.27 million.
Fifth Third Bancorp (FITB) Insider Activity
A total of 2 insider transactions have happened at Fifth Third Bancorp (FITB) in the last six months, with sales accounting for 1 and purchases happening 1 times. The most recent transaction is an insider sale by Spence Timothy,the company’sChair, CEO & President. SEC filings show that Spence Timothy sold 5,447 shares of the company’s common stock on Feb 16 at a price of $33.47 per share for a total of $0.18 million. Following the sale, the insider now owns 0.36 million shares.
Fifth Third Bancorp disclosed in a document filed with the SEC on Oct 30 that Daniels C. Bryan (Director) bought a total of 64,500 shares of the company’s common stock. The trade occurred on Oct 30 and was made at $23.31 per share for $1.5 million. Following the transaction, the insider now directly holds 0.33 million shares of the FITB stock.
Still, SEC filings show that on May 03, Bayh Evan (Director) acquired 5,000 shares at an average price of $24.82 for $0.12 million. The insider now directly holds 73,700 shares of Fifth Third Bancorp (FITB).
Fifth Third Bancorp (FITB): Who are the competitors?
The company’s main competitors (and peers) include JPMorgan Chase & Co. (JPM) that is trading 27.97% up over the past 12 months. Bank of America Corp. (BAC) that is -0.06% lower over the same period.
