EVP and CTO Immaneni Aravind sold 4,000 shares in Fifth Third Bancorp (NASDAQ:FITB) for $21,071 in transaction occurred on 2018/03/19. After making this transaction, the EVP and CTO owns a direct stake of 134,400 shares, worth $576,713, as per the last closing price. On 2018/03/16 Mcwilliams Jelena, EVP and CLO at FITB, dumped 568 shares at an average price of $33.84 per share. The selling total is valued at $165,151.
Separately, it had been reported that some other FITB insiders also took part of the insider trading activity. Director, Brumback Emerson L had divested 3,000 shares for $50,343 through a trade on 2018/03/05. Following this activity, the insider holds 100,320 shares worth $1,377,888 as of recent close. Wall Street’s most bullish Fifth Third Bancorp (NASDAQ:FITB) analysts are predicting the share price to blow past $37 per share during the next 12 months. The current median share price forecast by them is $32, suggesting that the stock could increase 16.92% in that time frame. The average price target of $32.06 calls for a nearly 17.14% increase in the stock price.
Fifth Third Bancorp (FITB) trading activity significantly weakened as the volume at ready counter decreased to 4,606,567 shares versus 7,629,540 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 5,984,556 shares. The share price dropped -0.07% in recent trade and currently has a stock-market value of $17.94B. The shares finished at $27.37, after trading as low as $27.105 earlier in the session. It hit an intraday high Monday at $27.72. The stock is now 13.57% above against its bear-market low of $24.1 on October 23, 2018. It has retreated -26.67% since it’s 52-week high of $34.67 reached in May. Now the market price is down -3.8% on the year and down -9.79% YTD.
FITB’s 50 day simple moving average (SMA 50) price is $27.7 and its 200-day simple moving average (SMA 200) price is $30.4. The company’s stock currently has a total float of 654.45M shares. Its weekly volatility is hovering around 2.93% and felt 3.02% volatility in price over a month. On the upside, the share price will test short term resistance at around $27.69. On a downside, the stock is likely to find some support, which begins at $27.08. The failure to get near-term support could push it to $26.78.
It had seen a positive analyst call from Raymond James, which upgraded the stock from Mkt Perform to Outperform on October 31. Analysts at Nomura, shed their negative views on October 24 by lifting it fromReduce to Neutral. The stock won favor of Wedbush analysts who expressed their confidence in it using an upgrade from Neutral to Outperform on September 04.
The insider holding in Fifth Third Bancorp (FITB) stood at 0.1% while institutions hold 84.2%. Blackrock Inc. is the largest single holder among mutual funds with ownership of over 47.1M FITB shares as of September 30, with a market value of approx. $1.32B as of today. The second largest holder, State Street Corp, with 35.17M shares which equates to $982.07M worth of the stock. At third is Jpmorgan Chase & Co, which stood pat with 17.46M shares, a 2.73% position in Fifth Third Bancorp, worth $487.57M.
When looking at valuations, Fifth Third Bancorp (FITB) has a cheap P/E of 9.99x as compared to industry average of 19.12x. Moreover, it trades for 10.04 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.26x price/book and 3.64x price/sales. Compared to others, Fifth Third Bancorp is in a different league with regards to profitability, having net margins of 43.2%. To put some perspective around this, the industry’s average net margin is 30.02%. FITB’s ROE is 14.4%, which is also considerably worse than the industry’s ROE of 16.22%.
Shares of Fifth Third Bancorp (FITB) have gained 7.9% since the company’s last earnings report. Over the past 12 fiscal quarters, Fifth Third Bancorp (NASDAQ:FITB) has topped consensus earnings estimates in 9 quarters (75%), missed earnings in 0 quarters (0%), whereas at 3 occasion EPS met analyst expectations. FITB last reported earnings on October 23, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.64 per share, -73.88% change on the same period last year. That was better than consensus for $0.62. Revenue for the recent quarter stood at $1.61 billion, up 4% on last year and below the $1.63 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.65 billion to $1.68 billion, which should be compared with $1.64 billion generated last year. EPS is seen in a range of $0.65 to $0.7, against the $0.56 reported a year ago.