Fifth Third Bancorp (NASDAQ: FITB)’s stock price has increased by 4.13 compared to its previous closing price of 25.41. Nevertheless, the company has seen a -16.50% plunge in its stock price over the last five trading sessions. Barron’s reported on 04/24/22 that 6 Dividend Growers to Help Beat the Market
Is It Worth Investing in Fifth Third Bancorp (NASDAQ: FITB) Right Now?
Fifth Third Bancorp (NASDAQ: FITB) has a higher price-to-earnings ratio of 7.90x compared to its average ratio, and the 36-month beta value for FITB is at 1.25. Analysts have varying views on the stock, with 13 analysts rating it as a “buy,” 4 rating it as “overweight,” 8 as “hold,” and 0 as “sell.”
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The average price suggested by analysts for FITB is $40.07, which is $13.54 above the current market price. The public float for FITB is 678.27M, and currently, shorts hold a 1.99% of that float. The average trading volume for FITB on March 17, 2023 was 6.98M shares.
FITB’s Market Performance
The stock of Fifth Third Bancorp (FITB) has seen a -16.50% decrease in the past week, with a -28.85% drop in the past month, and a -19.67% fall in the past quarter. The volatility ratio for the week is 13.87%, and the volatility levels for the past 30 days are at 5.15% for FITB. The simple moving average for the last 20 days is -22.14% for FITB stock, with a simple moving average of -23.69% for the last 200 days.
Analysts’ Opinion of FITB
Many brokerage firms have already submitted their reports for FITB stocks, with DA Davidson repeating the rating for FITB by listing it as a “Neutral.” The predicted price for FITB in the upcoming period, according to DA Davidson is $36 based on the research report published on December 21st of the previous year 2022.
Morgan Stanley, on the other hand, stated in their research note that they expect to see FITB reach a price target of $37. The rating they have provided for FITB stocks is “Equal-Weight” according to the report published on December 05th, 2022.
Wedbush gave a rating of “Outperform” to FITB, setting the target price at $39 in the report published on September 28th of the previous year.
FITB Trading at -24.21% from the 50-Day Moving Average
After a stumble in the market that brought FITB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -44.91% of loss for the given period.
Volatility was left at 5.15%, however, over the last 30 days, the volatility rate increased by 13.87%, as shares sank -28.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.93% lower at present.
During the last 5 trading sessions, FITB fell by -16.50%, which changed the moving average for the period of 200-days by -32.34% in comparison to the 20-day moving average, which settled at $33.45. In addition, Fifth Third Bancorp saw -19.35% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FITB starting from Heminger Gary R., who purchase 33,000 shares at the price of $26.82 back on Mar 13. After this action, Heminger Gary R. now owns 127,043 shares of Fifth Third Bancorp, valued at $885,159 using the latest closing price.
Heminger Gary R., the Director of Fifth Third Bancorp, purchase 14,500 shares at $26.82 during a trade that took place back on Mar 13, which means that Heminger Gary R. is holding 14,786 shares at $388,934 based on the most recent closing price.
Stock Fundamentals for FITB
Current profitability levels for the company are sitting at:
- +31.21 for the present operating margin
The net margin for Fifth Third Bancorp stands at +25.40. Equity return is now at value 14.40, with 1.10 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.17.
Conclusion
In conclusion, Fifth Third Bancorp (FITB) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
