Today’s Market Runner: Will Fifth Third Bancorp Run Out of Steam Soon?

Today's Market Runner: Will Fifth Third Bancorp Run Out of Steam Soon?

The stock of Fifth Third Bancorp (NASDAQ:FITB) hit a new 52-week high and has $27.61 target or 4.00% above today’s $26.55 share price. The 5 months bullish chart indicates low risk for the $20.56B company. The 1-year high was reported on Dec, 1 by If the $27.61 price target is reached, the company will be worth $822.40M 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 4.26M shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 40.72% since April 28, 2016 and is uptrending. It has outperformed by 34.80% the S&P500.

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on January, 19. They expect $0.43 EPS, up 4.88% or $0.02 from last year’s $0.41 per share. FITB’s profit will be $332.99 million for 15.44 P/E if the $0.43 EPS becomes a reality. After $0.65 actual EPS reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.

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 47 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Wednesday, November 30 by Wedbush. The company was initiated on Thursday, August 20 by Sterne Agee CRT. Jefferies downgraded the stock to “Hold” rating in Friday, October 7 report. The rating was upgraded by Rafferty on Friday, September 16 to “Buy”. Oppenheimer downgraded the stock to “Perform” rating in Wednesday, July 6 report. As per Wednesday, November 16, the company rating was downgraded by Robert W. Baird. The rating was downgraded by Goldman Sachs to “Neutral” on Friday, October 2. The firm has “Neutral” rating by Piper Jaffray given on Tuesday, November 24. As per Tuesday, October 4, the company rating was downgraded by Keefe Bruyette & Woods. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, January 22 report.

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 2016 Q2. Its down 0.19, from 0.88 in 2016Q1. The ratio is negative, 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.
Barclays Public Ltd Co accumulated 778,485 shares or 0.02% of the stock. Park Oh last reported 83,180 shares in the company. Parkside Bancshares Tru holds 0.01% or 1,693 shares in its portfolio. Stieven Cap Lp owns 345,500 shares or 1.69% of their US portfolio. Nordea Invest Mngmt Ab accumulated 1.59 million shares or 0.08% of the stock. Principal Finance Grp holds 0.05% or 1.96 million shares in its portfolio. Adage Capital Partners Grp Ltd accumulated 459,000 shares or 0.02% of the stock. Morgan Stanley has 0.02% invested in the company for 3.25M shares. Amalgamated Financial Bank, a New York-based fund reported 36,041 shares. Great West Life Assurance Can accumulated 509,232 shares or 0.03% of the stock. Blackrock Incorporated accumulated 1.71 million shares or 0.05% of the stock. Old Second Savings Bank Of Aurora, a Illinois-based fund reported 2,338 shares. Janus Capital Limited Company has 0.01% invested in the company for 569,134 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 268,754 shares or 0.06% of its portfolio. Moreover, Advisory Svcs Ntwk Ltd Co has 0.03% invested in Fifth Third Bancorp (NASDAQ:FITB) for 6,375 shares.

Insider Transactions: Since November 10, 2016, the stock had 0 insider buys, and 10 sales for $4.80 million net activity. 29,777 shares with value of $764,673 were sold by McHugh Philip on Friday, November 18. Tanner Teresa J. had sold 3,220 shares worth $82,701. 18,072 shares were sold by Forrest Frank R., worth $430,547 on Thursday, November 10. On Thursday, November 10 CARMICHAEL GREG D sold $414,807 worth of the stock or 17,689 shares. The insider Spence Timothy sold 4,000 shares worth $104,840. Leonard James C. also sold $510,355 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. The insider Borton Chad M sold 20,898 shares worth $496,341.

More important recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: which released: “Fifth Third Bancorp to Present at the 2016 Goldman Sachs U.S. Financial …” on November 30, 2016, also published article titled: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated …”, published: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” on November 22, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) was released by: and their article: “Fifth Third Bancorp Reaches Analyst Target Price” with publication date: November 08, 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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