Fifth Third Bancorp (NASDAQ:FITB)’s traded shares stood at 5.07 million during the latest session, with the company’s beta value hitting 1.25. At the last check today, the stock’s price was $25.04, to imply a decrease of -5.37% or -$1.42 in intraday trading. The FITB share’s 52-week high remains $48.03, putting it -91.81% down since that peak but still an impressive 11.7% since price per share fell to its 52-week low of $22.11. The company has a valuation of $18.74B, with an average of 20.92 million shares in intraday trading volume over the past 10 days and average of 7.49 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Fifth Third Bancorp (FITB), translating to a mean rating of 2.10. Of 25 analyst(s) looking at the stock, 0 analyst(s) give FITB a Sell rating. 4 of those analysts rate the stock as Overweight while 8 advise Hold as 13 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.82.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
Fifth Third Bancorp (NASDAQ:FITB) trade information
After registering a -5.37% downside in the latest session, Fifth Third Bancorp (FITB) has traded red over the past five days. The stock hit a weekly high of 29.60 this Thursday, 03/16/23, dropping -5.37% in its intraday price action. The 5-day price performance for the stock is -17.55%, and -32.51% over 30 days. With these gigs, the year-to-date price performance is -23.68%. Short interest in Fifth Third Bancorp (NASDAQ:FITB) saw shorts transact 14.49 million shares and set a 2.48 days time to cover.
Analysts on Wall Street suggest a consensus price target of $40.07, implying an increase of 37.51% to the stock’s recent value. The extremes give us $34.00 and $47.00 for target low and target high price respectively. As such, FITB has been trading -87.7% off suggested target high and -35.78% from its likely low.
Fifth Third Bancorp (FITB) estimates and forecasts
Looking at statistics comparing Fifth Third Bancorp share performance against respective industry, we note that the company has outperformed competitors. Fifth Third Bancorp (FITB) shares are -30.02% down over the last 6 months, with its year-to-date growth rate higher than industry average at 12.24% against 9.80%. Revenue is forecast to grow 26.20% this quarter before jumping 26.30% for the next one. The rating firms project that company’s revenue will grow 10.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 13 analysts is $2.25 billion. Meanwhile, for the quarter ending Jun 2023, a total of 13 analyst(s) estimate revenue growth to $2.31 billion.Earnings reports from the last fiscal year show that sales brought in $1.88 billion and $2.02 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 19.30% before jumping 14.60% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 6.30% for the past 5-year period. While 2023 is set for a -10.40% return in earnings, projections for the next 5 years are at 4.84% annually.
Fifth Third Bancorp has its next earnings report out on April 20. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Fifth Third Bancorp has a forward dividend ratio of 1.32, with the share yield ticking at 4.99% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Fifth Third Bancorp (NASDAQ:FITB)’s Major holders
Fifth Third Bancorp insiders hold 0.49% of total outstanding shares, with institutional holders owning 83.18% of the shares at 83.58% float percentage. In total, 83.18% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 85.55 million shares (or 12.46% of shares), all amounting to roughly $2.73 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 54.34 million shares, or about 7.92% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $1.74 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Fifth Third Bancorp (FITB) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 20.43 million shares. This is just over 2.98% of the total shares, with a market valuation of $652.99 million. Data from the same date shows that the other fund manager holds a little less at 15.84 million, or 2.31% of the shares, all valued at about 506.26 million.