Fifth Third Bancorp (NASDAQ: FITB) shares rose in value Thursday Dec 15 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Zacks Investment Research upgraded shares of Fifth Third Bancorp (NASDAQ: FITB) from Hold to Buy today. The company currently has a rating of Buy on the shares. The one-year price target of $25.43 is less than the opening price of $27.04, that has caused a number of other analysts to comment on the stock in recent days. Looking back over the last 52 weeks, Fifth Third Bancorp stock has a high of $27.31. Share prices often trend to the upside on recommendations and new price targets of professional analysts.
Shares of Fifth Third Bancorp (NASDAQ: FITB) opened at $27.04 on Tuesday and has traded in a range between, $26.82 and $27.25, and last traded at $27.16, a spike of $0.25 or 0.93% from the previous closing price.
Fifth Third Bancorp (NASDAQ: FITB) currently has a market cap of 20.52B.
Fifth Third Bancorp (NASDAQ: FITB) Average Daily Trading Volume
The stock’s average daily volume is 8,289,380 shares out of a total float 752,628,000 and some 1,267,041 shares crossed the trading desk yesterday, lower than the average. Trading volume is likely to increase in the next few days as investors often use upticks in trading volume to determine substantial volume accumulation or distribution by institutional investors.
While an increase in trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks delivers a positive signal to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re researching.
Fifth Third Bancorp (NASDAQ: FITB) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Fifth Third Bancorp (NASDAQ: FITB) now has a 50-day MA of $24.61 and 200-day MA of $20.62. It has traded in a 52-week range between $13.84 – 27.31 and today’s last price is 0.55%% lower than the 52 week high of $27.31.
Earnings growth is an important factor to look at when investing in stocks and investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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