What The Financials Tell Us About Fifth Third Bancorp (FITB)

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KOSK Stock
KOSK Stock

Fifth Third Bancorp (NASDAQ:FITB) finished Wednesday with a subtraction of -$0.88 to close at $34.26, a downside of -2.50 percent. An average of 4,813,080 shares of common stock have been traded in the last five days. There was a fall of -$0.72 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 3,854,145 shares traded, while the 50-day average volume stands at 4,207,396.

FITB stock has decreased by -3.49% in the last month. The company shares reached their 1-month lowest point of $32.85 on 09/06/22. With the stock rallying to its 52-week high on 01/18/22, shares of the company touched a low of $31.80 and a high of $50.64 in 52 weeks. It has reached a new high 10 times so far this year and lost -21.33% or -$9.29 in price. In spite of this, the price is down -32.35% from the 52-week high.


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Insider Transactions

27 days have passed since Fifth Third Bancorp (FITB) last reported insider trading activity. FEIGER MITCHELL, who is Director, most recently acquired $8,734 shares at $35.20 per share on Aug 26. In this transaction, the insider spent $307,480. EVP, Lavender Kevin P, disposed of 6,500 shares at a price of $39.24 on Jun 02. The insider now owns more than $255,060 worth of shares. Prior to that, EVP & CIO Schramm Jude went on to Sale 2,500 shares at $36.93 each on May 17. An amount of $92,325 was transacted.

Valuation Metrics

Fifth Third Bancorp (FITB) has a trailing price-to-earnings (P/E) ratio of 10.35. The stock’s beta is 1.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.50, the price-to-book (PB) ratio at 1.40, and the price-to-cash flow ratio at 6.04.

The company has a payout ratio of 35.80%. The company’s most recent quarterly dividend payment was $0.33 a share, representing a up of 10.0% from $0.30 last year. Its latest increase dividend $0.03 reported on Monday September 12 2022.

Financial Health

Further, the company has a long term debt to equity ratio of 0.65 and a total debt to equity ratio of 0.65 for the quarter ending June 29. Its gross profit as reported stood at $4.77 billion compared to revenue of $5.21 billion.

Earnings Surprise

For the three-month period that ended June 29, Fifth Third Bancorp had $10.99 billion in total debt. The analyst consensus anticipated Fifth Third Bancorp’s latest quarter earnings to come in at $0.87 per share, but it turned out to be $0.76, a -12.60% surprise. At the end of the quarter ending June 29, Fifth Third Bancorp’s stock balance sheet showed total debt was $23.7 billion. Shareholders own equity worth $686.19 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Fifth Third Bancorp (FITB) price momentum. RSI 9-day as of the close on 21 September was 41.81%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.06%.

As of today, FITB’s price is $35.13 -2.06% or -$0.72 from its 5-day moving average. FITB is currently trading -3.82% lower than its 20-day SMA and -12.06% lower than its 100-day SMA. However, the stock’s current price level is +2.18% above the SMA50 and -20.42% below the SMA200.

The stochastic %K and %D were 55.91% and 62.37%, respectively, and the average true range (ATR) was 1.09. With the 14-day stochastic at 37.60% and the average true range at 1.05, the RSI (14) stands at 44.67%. The stock has reached -0.37 on the 9-day MACD Oscillator while the 14-day reading was at 0.09.

Analyst Ratings

Robert W. Baird upgraded Fifth Third Bancorp (NASDAQ: FITB) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Fifth Third Bancorp (FITB) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FITB, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 12 others rate it as a “buy”.

What is FITB’s price target for the next 12 months?

Analysts predict a range of price targets between $37.00 and $53.00, with a median target of $42.50. Taking a look at these predictions, the average price target given by analysts for Fifth Third Bancorp (FITB) stock is $42.39.

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