Fifth Third Bancorp (NASDAQ: FITB)’s stock price has plunge by -1.37relation to previous closing price of 37.21. Nevertheless, the company has seen a 0.91% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-08 that JPMorgan (JPM), BofA (BAC), Fifth Third (FITB), Regions Financial (RF) and other banks covered under the proposed capital plan can take a breather as the Fed signals modifications to the plan.
Is It Worth Investing in Fifth Third Bancorp (NASDAQ: FITB) Right Now?
The price-to-earnings ratio for Fifth Third Bancorp (NASDAQ: FITB) is above average at 11.41x, Company’s 36-month beta value is 1.29.Analysts have differing opinions on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 22 as “hold,” and 2 as “sell.”
The public float for FITB is 679.06M, and currently, short sellers hold a 3.10% ratio of that floaft. The average trading volume of FITB on April 02, 2024 was 5.61M shares.
FITB’s Market Performance
FITB’s stock has seen a 0.91% increase for the week, with a 6.87% rise in the past month and a 5.46% gain in the past quarter. The volatility ratio for the week is 1.89%, and the volatility levels for the past 30 days are at 2.33% for Fifth Third Bancorp The simple moving average for the last 20 days is 1.56% for FITB stock, with a simple moving average of 24.19% for the last 200 days.
Analysts’ Opinion of FITB
Stephens, on the other hand, stated in their research note that they expect to see FITB reach a price target of $41. The rating they have provided for FITB stocks is “Equal-Weight” according to the report published on March 19th, 2024.
Keefe Bruyette gave a rating of “Mkt Perform” to FITB, setting the target price at $37 in the report published on January 09th of the current year.
FITB Trading at 5.41% 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 -1.90% of loss for the given period.
Volatility was left at 2.33%, however, over the last 30 days, the volatility rate increased by 1.89%, as shares surge +6.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.41% upper at present.
During the last 5 trading sessions, FITB rose by +0.91%, which changed the moving average for the period of 200-days by +37.76% in comparison to the 20-day moving average, which settled at $36.25. In addition, Fifth Third Bancorp saw 6.41% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FITB starting from Schramm Jude, who sale 5,000 shares at the price of $36.38 back on Mar 25 ’24. After this action, Schramm Jude now owns 139,422 shares of Fifth Third Bancorp, valued at $181,900 using the latest closing price.
Leonard James C., the EVP & Chief Operating Officer of Fifth Third Bancorp, sale 26,500 shares at $36.66 during a trade that took place back on Mar 11 ’24, which means that Leonard James C. is holding 229,344 shares at $971,606 based on the most recent closing price.
Stock Fundamentals for FITB
Current profitability levels for the company are sitting at:
- 0.58 for the present operating margin
- 1.0 for the gross margin
The net margin for Fifth Third Bancorp stands at 0.24. The total capital return value is set at 0.05. Equity return is now at value 12.87, with 1.11 for asset returns.
Based on Fifth Third Bancorp (FITB), the company’s capital structure generated 0.5 points at debt to capital in total, while cash flow to debt ratio is standing at 0.22. The debt to equity ratio resting at 1.01. The interest coverage ratio of the stock is 1.93.
Currently, EBITDA for the company is 481.0 million with net debt to EBITDA at 5.4. When we switch over and look at the enterprise to sales, we see a ratio of 4.24. The receivables turnover for the company is 1.77for trailing twelve months and the total asset turnover is 0.05. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.29.
Conclusion
In a nutshell, Fifth Third Bancorp (FITB) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
