The stock of Fifth Third Bancorp (NASDAQ:FITB) hit a new 52-week high and has $34.65 target or 35.00% above today’s $25.67 share price. The 9 months bullish chart indicates low risk for the $20.00 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $34.65 price target is reached, the company will be worth $7.00 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 635,994 shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 41.80% since April 19, 2016 and is uptrending. It has outperformed by 37.94% the S&P500.
Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage
Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Compass Point on Friday, November 18. The firm earned “Neutral” rating on Monday, June 6 by Citigroup. JP Morgan maintained Fifth Third Bancorp (NASDAQ:FITB) on Thursday, April 7 with “Neutral” rating. The firm earned “Neutral” rating on Tuesday, June 7 by Susquehanna. The firm earned “Underperform” rating on Wednesday, November 16 by Robert W. Baird. The rating was upgraded by Rafferty to “Buy” on Friday, September 16. The rating was downgraded by Goldman Sachs on Friday, October 2 to “Neutral”. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Tuesday, October 4. As per Tuesday, March 8, the company rating was upgraded by Stephens. As per Wednesday, October 21, the company rating was downgraded by Guggenheim.
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 0.69 in Q2 2016. Its down 0.19, from 0.88 in 2016Q1. The ratio dropped, 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.
Redwood Ltd Liability Co has 3,809 shares for 0.01% of their US portfolio. California Public Employees Retirement has invested 0.07% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Kbc Group Nv accumulated 237,481 shares or 0.06% of the stock. Hennessy Advisors Inc owns 132,000 shares or 0.07% of their US portfolio. The Alabama-based Andra Ap has invested 0.1% in Fifth Third Bancorp (NASDAQ:FITB). Deprince Race And Zollo, a Florida-based fund reported 3.02 million shares. Profund Advisors Ltd accumulated 0.02% or 25,314 shares. Moreover, Wedge Cap Mgmt L Ltd Partnership Nc has 0.98% invested in Fifth Third Bancorp (NASDAQ:FITB) for 5.40 million shares. The Indiana-based 1St Source Bancorp has invested 0.03% in Fifth Third Bancorp (NASDAQ:FITB). Seizert Capital Prtn Ltd Limited Liability Company has invested 2.19% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Moreover, Ing Groep Nv has 0.01% invested in Fifth Third Bancorp (NASDAQ:FITB) for 27,086 shares. Whittier Tru Com Of Nevada last reported 3,076 shares in the company. Bridgewater L P owns 22,000 shares or 0% of their US portfolio. Atwood Palmer Inc has 2.93% invested in the company for 920,356 shares. Moreover, Schwartz Invest Counsel has 1.46% invested in Fifth Third Bancorp (NASDAQ:FITB) for 1.15 million shares.
Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 6 insider sales for $3.36 million net activity. Shares for $414,807 were sold by CARMICHAEL GREG D. Shares for $578,750 were sold by Spence Timothy on Thursday, November 10. $510,355 worth of Fifth Third Bancorp (NASDAQ:FITB) was sold by Leonard James C.. 20,898 shares were sold by Borton Chad M, worth $496,341. $430,547 worth of shares were sold by Forrest Frank R. on Thursday, November 10.
More notable recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Bizjournals.com which released: “Fifth Third’s stock rally could be over, analyst says” on November 21, 2016, also Nasdaq.com with their article: “Fifth Third Bancorp Reaches Analyst Target Price” published on November 08, 2016, Bizjournals.com published: “Meet Fifth Third’s new top banker coming to town” on October 27, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Businesswire.com and their article: “Brian Lamb Named Chief Corporate Responsibility and Reputation Officer at …” published on October 26, 2016 as well as Prnewswire.com‘s news article titled: “Banking Stocks Under Review — KeyCorp, Huntington Bancshares, Fifth Third …” with publication date: November 17, 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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