Fifth Third Bancorp (NASDAQ:FITB) finished Thursday with an addition of $0.29 to close at $25.72, an upside of 1.14 percent. An average of 4,657,000 shares of common stock have been traded in the last five days. There was a fall of -$0.05 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 4,350,135 shares traded, while the 50-day average volume stands at 5,064,144.
FITB stock has decreased by -9.85% in the last month. The company shares reached their 1-month lowest point of $24.69 on 08/23/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $22.11 and a high of $38.06 in 52 weeks. It has reached a new high 14 times so far this year and lost -21.61% or -$7.09 in price. In spite of this, the price is down -32.41% from the 52-week high.
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Insider Transactions
FITB stock investors should be aware that Fifth Third Bancorp (FITB) stock had its last reported insider trading activity 192 days ago on May 03. In this transaction, the insider spent $37,317. EVP, Hammond Howard, disposed of 2,000 shares at a price of $37.52 on Feb 08. The insider now owns more than $75,044 worth of shares. Prior to that, EVP Lavender Kevin P went on to Sale 6,259 shares at $36.58 each on Nov 15. An amount of $228,960 was transacted.
Valuation Metrics
Fifth Third Bancorp (FITB) has a trailing price-to-earnings (P/E) ratio of 7.33. The stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.09, the price-to-book (PB) ratio at 1.12, and the price-to-cash flow ratio at 3.47.
The company has a payout ratio of 37.40%. The company’s most recent quarterly dividend payment was $0.33 a share, without any change from 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 0.78 and a total debt to equity ratio of 0.78 for the quarter ending June 29. Its gross profit as reported stood at $5.61 billion compared to revenue of $6.59 billion.
Earnings Surprise
For the three-month period that ended June 29, Fifth Third Bancorp had $12.28 billion in total debt. The analyst consensus anticipated Fifth Third Bancorp’s latest quarter earnings to come in at $0.83 per share, but it turned out to be $0.82, a -1.20% surprise. At the end of the quarter ending June 29, Fifth Third Bancorp’s stock balance sheet showed total debt was $22.03 billion. Shareholders own equity worth $680.89 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 24 August was 37.55%, suggesting the stock is Neutral, with historical volatility in this time frame at 31.04%.
As of today, FITB’s price is $25.46 -0.19% or -$0.05 from its 5-day moving average. FITB is currently trading -9.98% lower than its 20-day SMA and -3.45% lower than its 100-day SMA. However, the stock’s current price level is -3.45% below the SMA50 and -26.79% below the SMA200.
The stochastic %K and %D were 15.22% and 10.09%, respectively, and the average true range (ATR) was 0.68. With the 14-day stochastic at 25.00% and the average true range at 0.70, the RSI (14) stands at 39.16%. The stock has reached -0.37 on the 9-day MACD Oscillator while the 14-day reading was at -1.16.
Analyst Ratings
Raymond James launched coverage on Fifth Third Bancorp (NASDAQ: FITB) in its analyst report released on August 24, 2023. The firm assigned the stock a Mkt perform rating. 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 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 14 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 $26.50 and $35.00, with a median target of $33.00. Taking a look at these predictions, the average price target given by analysts for Fifth Third Bancorp (FITB) stock is $31.93.
