Fifth Third Bancorp (FITB) : Wednesdays money flow data in Fifth Third Bancorp (FITB) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $7 million, whereas, $5.16 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.36, in favor of the bulls. The total money flow into the stock was $1.84 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $2.47 million. The total value of block trades done on upticks was $2.47 million. Fifth Third Bancorp (FITB) fell $0.02 and traded at $18.39, down -0.11% for the day, over previous days close. On a weekly basis, the shares are -0.81% over the previous weeks close.
Also, Brokerage firm Oppenheimer downgrades its rating on Fifth Third Bancorp (NASDAQ:FITB). The shares have been rated Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on July 6, 2016.
Fifth Third Bancorp (NASDAQ:FITB): The stock opened at $18.46 on Wednesday but the bulls could not build on the opening and the stock topped out at $18.48 for the day. The stock traded down to $18.27 during the day, due to lack of any buying support eventually closed down at $18.39 with a loss of -0.11% for the day. The stock had closed at $18.41 on the previous day. The total traded volume was 3,984,891 shares.
The stock has recorded a 20-day Moving Average of 4.33% and the 50-Day Moving Average is 2.49%. In a related news, Forrest Frank R., officer (EVP & Chief Risk & Credit Off) of Fifth Third Bancorp, unloaded 6,702 shares at an average price of $20.47 on November 24, 2015. The total amount of the transaction was worth $137,190, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Fifth Third Bancorp is a bank holding company. The Companys subsidiary, Fifth Third Bank, provide a range of financial products and services to the retail, commercial, financial, governmental, educational and medical sectors, and credit products, such as credit cards, installment loans, mortgage loans and leases. The Company operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation, cash management and financial services to market businesses and Government, and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1,302 Banking Centers. Consumer Lending includes its mortgage, home equity, automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals, companies and not-for-profit organizations.