The stock of Fifth Third Bancorp (NASDAQ:FITB) increased by $0.34 on Tuesday to at $26.14, up 1.30 percent. The last five days have seen an average of 3,037,894 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$6.76. The average number of shares traded over the last 20 days was 4,074,168, while the average volume over the last 50 days totaled 4,666,105.
FITB stock dropped -10.19% since last month. On 08/23/23, the company’s shares reached a one-month low of $24.69. The stock touched a high of $38.06 on 02/02/23, after rallying from a low of $22.11 in 52 weeks. The price of FITB stock has declined by -20.34% or -$6.76 this year, reaching a new high 14 times. Still, the stock price is down -31.32% 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 118 days ago on May 03. On May 03, Director Bayh Evan acquired 5,000 shares at $24.82 each. This transaction resulted in the insider spending $124,100. On Mar 13, Heminger Gary R. added 33,000 shares at a price of US$26.82. After the transaction, the insider now owns 127,043 shares. Director Heminger Gary R. had earlier bought 14,500 shares on Mar 13 for $26.82 a share. The transaction was completed for $388,934.
Valuation Metrics
Fifth Third Bancorp (FITB) has a trailing price-to-earnings (P/E) ratio of 7.45. Beta for the stock is 1.23. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.14, the price-to-book (PB) ratio of 1.14, and the price-to-cash flow ratio of 3.54.
Company paid $0.33 per share in dividends, remained unchanged from $0.33 last year. A $0.03 dividend increase was reported on Monday September 12 2022.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.78, and the total debt to equity ratio is 0.78. Fifth Third Bancorp’s operating margin stood at 63.80% for the same period. Based on annual data, it had gross profit of $5.61 billion and revenue of $6.59 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FITB’s return on assets (ROA) during the last 12 months has been 1.20%. There was a 15.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 15.70%.
Earnings Surprise
According to Fifth Third Bancorp’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Fifth Third Bancorp’s quarterly earnings would be $0.82, but it ended up being $0.83, beating the consensus by -1.20%. At the end of Fifth Third Bancorp’s most recent quarter ended June 29, its total debt was $22.03 billion. Equity owned by shareholders amounts to $680.89 million.
Technical Picture
Here’s a quick look at Fifth Third Bancorp’s (FITB) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 46.25%, suggesting the stock is Neutral, with a 24.28% historical volatility rate.
The stochastic %K and %D were 32.12% and 26.72% respectively, while the average true range (ATR) was 0.65. Based on the 14-day stochastic reading of 41.49%, the RSI (14) reading is 44.41%. On the 9-day MACD Oscillator, the stock is at 0.16, and the 14-day reading is at -0.26.
Analyst Ratings
In its analyst report released on August 24, 2023, Raymond James began covering Fifth Third Bancorp (NASDAQ: FITB). The stock was rated as a Mkt perform by the brokerage firm. Analysts have assigned Fifth Third Bancorp (FITB) an Overweight rating. FITB is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 14 others recommend it as a buy.
What is FITB’s price target for the next 12 months?
The current consensus forecast for the stock is between $26.50 and $35.00, with a median target price of $32.00. In analyzing these forecasts, the average price target given by analysts for Fifth Third Bancorp (FITB) is $31.83.
