In the last trading session, 6.24 million shares of the Fifth Third Bancorp (NASDAQ:FITB) were traded, and its beta was 1.20. Most recently the company’s share price was $25.92, and it changed around $0.47 or 1.85% from the last close, which brings the market valuation of the company to $17.69B. FITB currently trades at a discount to its 52-week high of $40.07, offering almost -54.59% off that amount. The share price’s 52-week low was $22.11, which indicates that the current value has risen by an impressive 14.7% since then. We note from Fifth Third Bancorp’s average daily trading volume that its 10-day average is 7.53 million shares, with the 3-month average coming to 10.57 million.
Fifth Third Bancorp stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 25 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 7 recommended FITB as a Hold, whereas 14 deemed it a Buy, and 0 rated it as Underweight. Fifth Third Bancorp is expected to report earnings per share of $iShares U.S. Home Construction for the current quarter.
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Fifth Third Bancorp (NASDAQ:FITB) trade information
Instantly FITB has showed a green trend with a performance of 1.85% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 26.44 on Tuesday, 05/23/23 increased the stock’s daily price by 1.97%. The company’s shares are currently down -21.00% year-to-date, but still up 9.00% over the last five days. On the other hand, Fifth Third Bancorp (NASDAQ:FITB) is -4.21% up in the 30-day period. We can see from the shorts that 7.74 million shares have been sold at a short interest cover period of 1.08 day(s).
Fifth Third Bancorp (FITB) estimates and forecasts
Fifth Third Bancorp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -27.25 percent over the past six months and at a 3.58% annual growth rate that is well above the industry average of 2.70%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 6.30%. Fifth Third Bancorp earnings are expected to increase by -10.40% in 2023, but the outlook is positive 4.84% per year for the next five years.
Fifth Third Bancorp’s next quarterly earnings report is expected to be released on July 20. The annual dividend yield of the stock is 5.09 percent and its annual dividend per share was 1.32. It is important to note, however, that the 5.09% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Fifth Third Bancorp (NASDAQ:FITB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.50% of Fifth Third Bancorp shares, and 83.15% of them are in the hands of institutional investors. The stock currently has a share float of 83.57%. Fifth Third Bancorp stock is held by 1,166 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 12.80% of the shares, which is about 87.12 million shares worth $2.32 billion.
Blackrock Inc., with 8.63% or 58.77 million shares worth $1.57 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 20.86 million shares worth $684.27 million, making up 3.06% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 15.98 million shares worth around $524.44 million, which represents about 2.35% of the total shares outstanding.