Fifth Third Bancorp (FITB) Stock’s Detailed Analysis – Marketing Sentinel
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Fifth Third Bancorp (FITB) Stock’s Detailed Analysis

Fifth Third Bancorp (NASDAQ:FITB) has a beta value of 1.51 and has seen 1.79 million shares traded in the recent trading session. The company, currently valued at $30.28B, closed the recent trade at $43.90 per share which meant it lost -$0.15 on the day or -0.35% during that session. The FITB stock price is -1.34% off its 52-week high price of $44.49 and 49.66% above the 52-week low of $22.10. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.95 million shares traded. The 3-month trading volume is 5.01 million shares.

The consensus among analysts is that Fifth Third Bancorp (FITB) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 7 out of 22 have rated it as a Hold, with 12 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.88.

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Fifth Third Bancorp (NASDAQ:FITB) trade information

Sporting -0.35% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 10/18/21 when the FITB stock price touched $43.90 or saw a rise of 1.22%. Year-to-date, Fifth Third Bancorp shares have moved 59.78%, while the 5-day performance has seen it change 1.29%. Over the past 30 days, the shares of Fifth Third Bancorp (NASDAQ:FITB) have changed 9.80%. Short interest in the company has seen 11.84 million shares shorted with days to cover at 2.53.

Wall Street analysts have a consensus price target for the stock at $45.82, which means that the shares’ value could jump 4.19% from the levels at last check today. The projected low price target is $38.00 while the price target rests at a high of $52.00. In that case, then, we find that the latest price level in today’s session is -18.45% off the targeted high while a plunge would see the stock lose 13.44% from the levels at last check today.

Fifth Third Bancorp (FITB) estimates and forecasts

Figures show that Fifth Third Bancorp shares have outperformed across the wider relevant industry. The company’s shares have gained 20.88% over the past 6 months, with this year growth rate of 70.37%, compared to 38.70% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 12.80% and 11.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 3.00%.

12 analysts offering their estimates for the company have set an average revenue estimate of $1.97 billion for the current quarter. 12 have an estimated revenue figure of $1.99 billion for the next quarter concluding in Dec 2021.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -1.80% over the past 5 years. Earnings growth for 2021 is a modest -45.10% while over the next 5 years, the company’s earnings are expected to decrease by -2.98%.

FITB Dividends

Fifth Third Bancorp is expected to release its next earnings report on October 19 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.20 at a share yield of 2.72%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 2.96%.

Fifth Third Bancorp (NASDAQ:FITB)’s Major holders

Insiders own 0.43% of the company shares, while shares held by institutions stand at 83.53% with a share float percentage of 83.89%. Investors are also buoyed by the number of investors in a company, with Fifth Third Bancorp having a total of 1,126 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 82.69 million shares worth more than $3.16 billion. As of Jun 29, 2021, Vanguard Group, Inc. (The) held 11.97% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 54.43 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $2.08 billion and represent 7.88% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Jun 29, 2021, the former fund manager holds about 2.88% shares in the company for having 19.89 million shares of worth $760.54 million while later fund manager owns 15.67 million shares of worth $599.22 million as of Jun 29, 2021, which makes it owner of about 2.27% of company’s outstanding stock.

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