Fifth Third Bancorp (FITB): Mean Target Price for Financial Sector stood at $22.00


Fifth Third Bancorp (NASDAQ:FITB) changes shares on Tuesday trading session, with a change of -0.76% or -$0.15 shares. The trading starts at $19.72 and closed at $19.64 throughout the day. The trading session low price was $19.38 and day high was $19.785 on Tuesday, August 04. After the session, the Financial sector daily volume shifted to 3.59 million while its average volume is 8.09M. In other hand, the FITB market cap reached to $13.76B. While, its current target price is $22.38.

On March 10, 2020, U.S. lawmaker cites conflicts in Fifth Third phony accounts probe. According to the news reported on Reuters, A senior Democratic senator on Tuesday raised concerns that a federal regulator probing allegations that Fifth Third Bancorp employees created phony accounts may be conflicted because one of its staffers previously worked at the bank.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is up 1.14% and up 3.34% for month. Its quarterly performance was 12.20% above, while its half year performance is down -33.89%. FITB yearly performance stood at negative -27.76% and fall -36.60% for year-to-date. Current recommendation for Fifth Third Bancorp is 2.20.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. FITB EPS (TTM) for 12-month is 1.94. EPS for this year is 9.00%, while for the next year its value is 1.98. Its EPS Q/Q reached -96.50%. It has an EPS of 14.90% up for past five years and for the next five years will be down -3.16%.

Let’s take a look on the analyst recommendations on FITB for the current month and previous month. For the current month, 12 of 24 analysts recommend stock as Buy while 1 as Sell, 2 as overweight, 0 as underweight and 9 as Hold. As compared with the previous month ratings, 0 analysts participate in stock recommendation. Out of 0, 0 rated it sell, 0 rated it as Buy and 0 as Hold Ratings. On the other hand, target price ranges from $18.00 – $27.00. Average target price for FITB was reached at $22.38.

Price (T.Rowe) Associates Inc, Vanguard Group, Inc. (The) and Blackrock Inc. are the top three holders in Fifth Third Bancorp (FITB) stock. On Mar 30, 2020, Price (T.Rowe) Associates Inc has 82.79 million shares which valued 1.23 billion. On Mar 30, 2020, Vanguard Group, Inc. (The) owned 63.68 million shares which valued at 945.71 million. On Mar 30, 2020, Blackrock Inc. has a total of 46.72 million shares which valued at 693.85 million. In the end, Blackrock Inc. have 6.56% shares outstanding of Fifth Third Bancorp (FITB) on Mar 30, 2020. The insider ownership moved to 0.40% and institutional holding shifted to 82.10%.

The company posted an EPS (TTM) of 1.94. According to the most recent quarter report on (Sep 2020), 20 analysts estimated an average EPS of 0.49, while 0.75 EPS posted a year ago period. Analyst Estimated EPS for FITB published in the report was $0.29 – $0.62 during the same period. Comparing with last year, the average estimated EPS was 0.75 which is higher than 0.3 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for FITB fall -17.22% for period of 200 days. SMA for 50 days was -2.47% which is showing red signal, while SMA-20 was 2.59%. The moving average value for Fifth Third Bancorp (FITB) is 20.51 and 19.44 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in FITB stock. On Mar 13, Blackburn Katherine H., Director, bought 58,800 trading shares at the cost of $16.90, which valued at 0.99 million. On Mar 12, Leonard James C., EVP & Chief Risk Officer, bought 6,300 shares at the cost of $16.00, with total shares of 94,868. On Mar 02, Spence Timothy, EVP, sold 5,000 shares at the cost of 24.19. After this transaction, Spence Timothy total shares reached to 166,727 which valued at 0.12 million.