Fifth Third Bancorp (NASDAQ: FITB) is 20.90% higher on its value in year-to-date trading and has touched a low of $22.49 and a high of $42.91 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 $42.10 in the last trading session, with the day’s loss setting it -0.4%.
Currently trading at $41.70, the stock is 1.97% and 4.86% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.81 million and changing -0.95% at the moment leaves the stock 15.76% off its SMA200. FITB registered 54.05% gain for a year compared to 6-month gain of 15.70%.
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The stock witnessed a 5.92% loss in the last 1 month and extending the period to 3 months gives it a 14.62%, and is -1.18% 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 1.85% over the week and 2.00% over the month.
Fifth Third Bancorp (FITB) has around 18724 employees, a market worth around $28.22B and $13.29B in sales. Current P/E ratio is 13.33 and Fwd P/E is 11.60. Profit margin for the company is 16.23%. Distance from 52-week low is 85.42% and -2.82% from its 52-week high. The company has generated returns on investments over the last 12 months (5.98%).
The EPS is expected to grow by 0.86% this year
1244.0 institutions hold shares in Fifth Third Bancorp (FITB), with institutional investors hold 88.15% of the company’s shares. The shares outstanding are 681.12M, and float is at 672.44M with Short Float at 3.29%. Institutions hold 87.65% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 83.1 million shares valued at $3.03 billion. The investor’s holdings represent 12.1186 of the FITB Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 58.11 million shares valued at $2.12 billion to account for 8.4742 of the shares outstanding. The other top investors are CAPITAL WORLD INVESTORS which holds 43.78 million shares representing 6.3846 and valued at over $1.6 billion, while STATE STREET CORP holds 4.6958 of the shares totaling 32.2 million with a market value of $1.19 billion.
Fifth Third Bancorp (FITB) Insider Activity
The most recent transaction is an insider sale by Schramm Jude, the company’s EVP & CIO. SEC filings show that Schramm Jude sold 20,000 shares of the company’s common stock on Aug 26 ’24 at a price of $42.00 per share for a total of $0.84 million. Following the sale, the insider now owns 0.11 million shares.
Still, SEC filings show that on Jul 24 ’24, Feiger Mitchell Stuart (Director) disposed off 12,000 shares at an average price of $41.21 for $0.49 million. The insider now directly holds 20,961 shares of Fifth Third Bancorp (FITB).
