Stock Worth Watching: What’s Fifth Third Bancorp Upside After Today’s Huge Increase?

Stock Worth Watching: What's Fifth Third Bancorp Upside After Today's Huge Increase?

The stock of Fifth Third Bancorp (NASDAQ:FITB) is a huge mover today! About 2.06 million shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 24.35% since March 8, 2016 and is uptrending. It has outperformed by 15.04% the S&P500.
The move comes after 8 months positive chart setup for the $15.63B company. It was reported on Oct, 11 by Barchart.com. We have $34.48 PT which if reached, will make NASDAQ:FITB worth $10.78B more.

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on October, 18. They expect $0.43 earnings per share, down 4.44% or $0.02 from last year’s $0.45 per share. FITB’s profit will be $329.46M for 11.86 P/E if the $0.43 EPS becomes a reality. After $0.40 actual earnings per share reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts 7.50% EPS growth.

Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage

Out of 24 analysts covering Fifth Third (NASDAQ:FITB), 6 rate it a “Buy”, 1 “Sell”, while 17 “Hold”. This means 25% are positive. Fifth Third has been the topic of 42 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Keefe Bruyette & Woods on Tuesday, October 4 to “Mkt Perform”. The rating was maintained by Oppenheimer with “Outperform” on Friday, January 22. The firm earned “Neutral” rating on Tuesday, June 7 by Susquehanna. The firm earned “Neutral” rating on Friday, October 7 by Wedbush. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Neutral” rating given on Thursday, April 7 by JP Morgan. Guggenheim downgraded the shares of FITB in a report on Wednesday, October 21 to “Neutral” rating. The firm has “Mkt Perform” rating given on Wednesday, August 26 by Bernstein. As per Wednesday, April 6, the company rating was downgraded by Sterne Agee CRT. On Thursday, August 20 the stock rating was initiated by Sterne Agee CRT with “Buy”. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Buy” rating by Rafferty on Friday, September 16.

According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.06, from 0.94 in 2016Q1. The ratio fall, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Ameriprise Financial has 13.36M shares for 0.14% of their US portfolio. Inc reported 454,161 shares or 0% of all its holdings. Martin Currie Limited has invested 0.34% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Stifel Finance Corporation holds 0.1% or 1.17M shares in its portfolio. Winch Advisory Ltd Liability holds 0% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 154 shares. Clear Harbor Asset Mgmt Limited Company holds 0.04% or 11,366 shares in its portfolio. Blackrock Institutional Tru Na accumulated 0.06% or 19.73 million shares. Moreover, Cap Ok has 0% invested in Fifth Third Bancorp (NASDAQ:FITB) for 447,175 shares. Ladenburg Thalmann Fincl Svcs owns 39,787 shares or 0.01% of their US portfolio. Intrust Bancorp Na has invested 0.21% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Cibc Asset Management accumulated 0.01% or 89,531 shares. Sector Pension Inv Board, a Quebec – Canada-based fund reported 145,511 shares. Fmr Limited Liability Com accumulated 4.38 million shares or 0.01% of the stock. Advantus Cap Inc accumulated 74,544 shares or 0.04% of the stock. Cutler Capital Management Llc has 0.12% invested in the company for 25,000 shares.

More notable recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Prnewswire.com which released: “Fifth Third Bank: Going to the Polls, with Retirement in Focus” on October 10, 2016, also Wsj.com with their article: “GreenSky Scores $3.6 Billion Valuation From Fifth Third Bancorp” published on September 12, 2016, Forbes.com published: “Ex-Dividend Reminder: Equity Lifestyle Properties, Fifth Third Bancorp and EPR …” on September 26, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Businesswire.com and their article: “Fifth Third Bank Launches New Consumer Credit Cards” published on October 11, 2016 as well as Businesswire.com‘s news article titled: “Reuben Rashty Named Managing Director of Fifth Third Private Bank in Michigan” with publication date: October 04, 2016.

FITB Company Profile

Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.

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