Fifth Third Bancorp (NASDAQ:FITB) saw a downside of -1.85% to close Tuesday at $28.05 after subtracting -$0.53 on the day. The 5-day average trading volume is 4,060,040 shares of the company’s common stock. It has gained $28.86 in the past week and touched a new high 3 times within the past 5 days. An average of 5,104,145 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,439,706.
FITB’s 1-month performance is 5.17% or $1.40 on its low of $26.39 reached on 07/10/23. The company’s shares have touched a 52-week low of $22.11 and high of $38.06, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, FITB has lost -14.51% or -$4.76 and has reached a new high 14 times. However, the current price is down -26.29% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
FITB stock investors last saw insider trading activity on May 03.Hammond Howard (EVP) most recently sold 1,000 shares at $37.32 per share on Feb 14. This transaction cost the insider $37,317. EVP, Hammond Howard, sold 2,000 shares at a price of $37.52 on Feb 08. Then, on Nov 15, EVP Lavender Kevin P sold 6,259 shares at a price of $36.58 per share. This transaction amounted to $228,960.
Valuation Metrics
FITB stock has a beta of 1.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.27 while the price-to-book (PB) in the most recent quarter is 1.18, with the price to cash flow ratio at 3.87.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.79, while the total debt to equity was 0.79. The firm’s gross profit as reported stood at $5.61 billion against revenue of $6.59 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected FITB to announce $0.83 per share in earnings in its latest quarter, but it posted $0.82, representing a -1.20% surprise. Shareholders hold equity totaling $680.89 million.
Let’s look briefly at Fifth Third Bancorp (FITB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 46.45% to suggest the stock is trending Neutral, with historical volatility in this time period at 15.41%.
The stock’s 5-day moving average is $28.39, reflecting a -2.64% or -$0.76 change from its current price. FITB is currently trading +3.66% above its 20-day SMA, +10.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.98% and SMA200 by-15.66%.
Stochastic %K and %D was 47.63% and 54.55% and the average true range (ATR) pointed at 0.76. The RSI (14) points at 51.59%, while the 14-day stochastic is at 38.05% with the period’s ATR at 0.76. The stock’s 9-day MACD Oscillator is pointing at -0.22 and -0.20 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Fifth Third Bancorp (NASDAQ: FITB), Keefe Bruyette upgraded it to an Outperform rating. They previously had a Mkt perform rating on the stock. Analysts offering their rating for FITB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FITB as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 14 have offered a “buy” rating.
What is FITB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $27.00 and a high of $35.00, with their median price target at $33.00. Looking at these predictions, the average price target given by analysts is for Fifth Third Bancorp (FITB) stock is $31.95.
