Fifth Third Bancorp (FITB) : Traders are bullish on Fifth Third Bancorp (FITB) as it has outperformed the S&P 500 by a wide margin of 5.89% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.54%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.51% in the last 1 week, and is up 6.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Fifth Third Bancorp is up 8.03% in the last 3-month period. Year-to-Date the stock performance stands at -1%. The stock has recorded a 20-day Moving Average of 2.83% and the 50-Day Moving Average is 7.06%.
Fifth Third Bancorp (NASDAQ:FITB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.59 and $19.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.59, notching a gain of 0.05% for the day. The total traded volume was 4,108,914 . The stock had closed at $19.58 on the previous day.
Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Fifth Third Bancorp (NASDAQ:FITB). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $20 per share to $21 per share. The rating by the firm was issued on August 1, 2016.
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.