Fifth Third Bancorp (NASDAQ:FITB) is now up 26.81% compared to a 12-month low of $22.12. We have seen the price to move 1.48% higher and get settled at $28.05 on 7/11/2019. At recent session, it appeared stuck in a range of $27.6 to $28.16. This company shares are 11.3% off its target price of $31.22 and the current market capitalization stands at $20.15B. The recent change has given its price a 1.87% lead over SMA 50 and -7.46% deficit over its 52-week high. The stock witnessed 2.33% gains, 4.98% gains and 11.98% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found FITB’s volatility during a week at 1.77% and during a month it has been found around 2.08%.
What Does Fifth Third Bancorp (FITB) Do?
The company describes itself in regulatory filings as, “Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. The Commercial Banking segment offers credit intermediation, cash management and financial services to large and middle-market businesses. The Branch Banking segment provides deposit, loan and lease products to individuals and small businesses. The Consumer Lending segment includes residential mortgage, home equity, automobile and indirect lending activities. The Wealth & Asset Management segment provides investment alternatives for individuals, companies and not-for-profit organizations. The company was founded in 1975 and is headquartered in Cincinnati, OH.” [Text can be found here: https://www.marketwatch.com/investing/stock/FITB/profile under company description.]Fifth Third Bancorp (FITB) Top Holders
Institutional investors currently hold around $16.9 billion or 83.9% in FITB stock. Look at its top three institutional owners: Price T Rowe Associates Inc /Md/ owns $2.09 billion in Fifth Third Bancorp, which represents roughly 10.38% of the company’s market cap and approximately 12.38% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 64,194,336 shares of the stock are valued at $1.77 billion. The third largest holder is Blackrock Inc., which currently holds $1.41 billion worth of this stock and that ownership represents nearly 6.99% of its market capitalization.Fifth Third Bancorp 13F Filings
At the end of March reporting period, 339 institutional holders increased their position in Fifth Third Bancorp (NASDAQ:FITB) by some 51,331,721 shares, 362 decreased positions by 74,402,930 and 134 held positions by 485,511,801. That puts total institutional holdings at 611,246,452 shares, according to SEC filings. The stock grabbed 98 new institutional investments totaling 10,443,923 shares while 66 institutional investors sold out their entire positions totaling 12,775,668 shares.Fifth Third Bancorp (NASDAQ:FITB) Insider Trades
Multiple company employees have indulged in significant insider trading. Fifth Third Bancorp disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Hoover Jewell D has sold 3,739 shares of Fifth Third Bancorp (FITB) in the trading session dated Jun. 03, 2019. These shares are worth $99,121 and were traded at $26.51 each. The SEC filing shows that Shaffer Robert P performed a sale of 209 shares. The EVP and CHRO disposed these shares by way of transaction on May. 03, 2019. The company’s shares were given away at $28.98 per share worth to an income of some $6,057 to the account of Shaffer Robert P.
EVP and CAO, Tanner Teresa J., sold 2,918 common shares of Fifth Third Bancorp (FITB) in the open market. In a transaction dated Apr. 30, 2019, the shares were put up for sale at an average price of $28.75, raking in a sum of $83,893. After this sale, 69,862 common shares of FITB are directly owned by the insider, with total stake valued at $1,959,619.
In the transaction dated Apr. 15, 2019, a great number of shares sold came courtesy the EVP and CAO; Tanner Teresa J. disposed a total of 55,600 shares at an average price of $27.47, amounting to approximately $1,527,332. The insider now directly owns 72,557 shares worth $2,035,234.Fifth Third Bancorp (FITB) Analyst Guide
Several analysts have released their opinion on Fifth Third Bancorp (NASDAQ:FITB), with 6 analysts believing it is a strong buy. Whereas 14 of them predict the stock is a hold. Also, there are 4 buy, 1 sell and 0 strong sell ratings, collectively assigning a 2.4 average brokerage recommendation [T1].