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Fifth Third Bancorp (FITB) – key numbers that make it a Strong Buy For Now

Fifth Third Bancorp (NASDAQ: FITB) is 4.32% higher on its value in year-to-date trading and has touched a low of $22.46 and a high of $37.41 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 $36.70 in the last trading session, with the day’s loss setting it -0.72%.

Currently trading at $35.98, the stock is -0.75% and 3.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.49 million and changing -1.96% at the moment leaves the stock 21.55% off its SMA200. FITB registered 36.70% gain for a year compared to 6-month gain of 42.05%.

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The stock witnessed a 4.68% loss in the last 1 month and extending the period to 3 months gives it a 4.32%, and is -0.74% 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 1.81% over the week and 2.26% over the month.

Fifth Third Bancorp (FITB) has around 18724 employees, a market worth around $24.59B and $12.70B in sales. Current P/E ratio is 11.19 and Fwd P/E is 10.24. Profit margin for the company is 17.41%. Distance from 52-week low is 60.20% and -3.82% from its 52-week high. The company has generated returns on investments over the last 12 months (6.87%).

Fifth Third Bancorp quarterly earnings per share for the current quarter are estimated at $0.69 with sales reaching $2.09B over the same period.The EPS is expected to shrink by -0.89% this year, but quarterly earnings will post -0.90% year-over-year. Quarterly sales are estimated to shrink -6.30% in year-over-year returns.

Fifth Third Bancorp (FITB) Top Institutional Holders

1,173 institutions hold shares in Fifth Third Bancorp (FITB), with institutional investors hold 85.69% of the company’s shares. The shares outstanding are 681.12M, and float is at 679.06M with Short Float at 3.10%. Institutions hold 85.20% 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

The most recent transaction is an insider sale by Schramm Jude,the company’sEVP & CIO. SEC filings show that Schramm Jude sold 5,000 shares of the company’s common stock on Mar 25 ’24 at a price of $36.38 per share for a total of $0.18 million. Following the sale, the insider now owns 0.14 million shares.

Fifth Third Bancorp disclosed in a document filed with the SEC on Mar 11 ’24 that Leonard James C. (EVP & Chief Operating Officer) sold a total of 26,500 shares of the company’s common stock. The trade occurred on Mar 11 ’24 and was made at $36.66 per share for $0.97 million. Following the transaction, the insider now directly holds 0.23 million shares of the FITB stock.

Still, SEC filings show that on Feb 26 ’24, Lavender Kevin P (EVP) disposed off 15,000 shares at an average price of $33.45 for $0.5 million. The insider now directly holds 82,930 shares of Fifth Third Bancorp (FITB).

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