As of Thursday close, Fifth Third Bancorp’s (NASDAQ:FITB) stock was up $0.16, moving up 0.61 percent to $26.55. The average number of shares traded per day over the past five days has been 4,677,420 shares. 4 times new highs have been achieved over the past 5 days, with a $0.83 gain in that time frame. In the last twenty days, the average volume was 4,440,270, while in the previous 50 days, it was 4,807,212.
Since last month, FITB stock retreated -6.42%. Shares of the company fell to $24.69 on 08/23/23, the lowest level in the past month. A 52-week high of $38.06 was reached on 02/02/23 after having rallying from a 52-week low of $22.11. Since the beginning of this year, FITB’s stock price has dropped by -19.08% or -$6.26, and marked a new high 14 times. However, the stock has declined by -30.23% since its 52-week high.
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FITB stock investors should be aware that Fifth Third Bancorp (FITB) stock had its last reported insider trading activity 121 days ago on May 03. Bayh Evan, the Director of the company, purchased of 5,000 shares for $24.82 on May 03. It resulted in a $124,100 investment by the insider. Heminger Gary R. added 33,000 shares at an average price of $26.82 on Mar 13. The insider now owns 127,043 shares following the transaction. On Mar 13, Director Heminger Gary R. bought 14,500 shares at $26.82 apiece. The transaction was valued at $388,934.
Valuation Metrics
Right now, Fifth Third Bancorp (FITB) has a P/E ratio of about 7.57. The stock’s beta is 1.23. Besides these, the trailing price-to-sales (P/S) ratio of 2.17, the price-to-book (PB) ratio of 1.16, and the price-to-cash flow ratio of 3.60 may also be considered.
The latest dividend of $0.33 per share was paid out, remained unchanged from last year’s $0.33. On Monday September 12 2022, a $0.03 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.78, and the total debt-to-equity ratio was 0.78. In the year ended June 29, operating margins totaled 63.80%. Based on annual data, FITB earned $5.61 billion in gross profit and brought in $6.59 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.20%. Return on equity (ROE) for the past 12 months was 15.70%.
In Fifth Third Bancorp’s quarter-end financial report for June 29, it reported total debt of $12.28 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Fifth Third Bancorp to report $0.83 quarterly earnings, the actual figure was $0.82 per share, beating the consensus estimate by -1.20%. The value of shareholders’ equity is $680.89 million.
Technical Picture
This quick technical analysis looks at Fifth Third Bancorp’s (FITB) price momentum. With a historical volatility rate of 26.18%, the RSI 9-day stood at 53.69% on 31 August.
With respect to its five-day moving average, the current Fifth Third Bancorp price is up by +3.23% percent or $0.83. At present, FITB shares trade -6.78% below its 20-day simple moving average and +0.99% percent above its 100-day simple moving average. However, the stock is currently trading approximately +0.19% above its SMA50 and -27.95% below its SMA200.
Stochastic coefficient K was 57.12% and Stochastic coefficient D was 46.47%, while ATR was 0.61. Given the Stochastic reading of 66.19% for the 14-day period, the RSI (14) reading has been calculated as 49.51%. As of today, the MACD Oscillator reading stands at 0.65, while the 14-day reading stands at 0.60.
Analyst Ratings
Raymond James launched its rating on Fifth Third Bancorp (NASDAQ: FITB) to a Mkt perform in a note to investors on August 24, 2023. Fifth Third Bancorp (FITB) has been rated Overweight by analysts. According to 0 brokerage firms, FITB is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate Fifth Third Bancorp stock as buy, with 14 recommending it as overweight.
With a median target price of $32.00, the current consensus forecast for the stock is $26.50 – $35.00. Based on these forecasts, analysts predict Fifth Third Bancorp (FITB) will achieve an average price target of $31.83.
