The stock of Fifth Third Bancorp (NASDAQ: FITB) has increased by 5.93 when compared to last closing price of 34.22. Despite this, the company has experienced a 4.98% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-19 that An increase in fee income and lower provisions aid Fifth Third’s (FITB) Q1 earnings, while higher expenses create headwinds.
Is It Worth Investing in Fifth Third Bancorp (NASDAQ: FITB) Right Now?
Fifth Third Bancorp (NASDAQ: FITB) has a price-to-earnings ratio that is above its average at 11.56x. The stock has a 36-month beta value of 1.28. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 1 as “overweight,” 22 as “hold,” and 2 as “sell.”
The public float for FITB is 679.08M, and at present, short sellers hold a 3.77% of that float. On April 22, 2024, the average trading volume of FITB was 5.30M shares.
FITB’s Market Performance
FITB stock saw a decrease of 4.98% in the past week, with a monthly decline of -0.98% and a quarterly a decrease of 5.96%. The volatility ratio for the week is 2.85%, and the volatility levels for the last 30 days are 2.32% for Fifth Third Bancorp (FITB). The simple moving average for the past 20 days is 1.76% for FITB’s stock, with a 20.13% simple moving average for the past 200 days.
Analysts’ Opinion of FITB
Many brokerage firms have already submitted their reports for FITB stocks, with Robert W. Baird repeating the rating for FITB by listing it as a “Neutral.” The predicted price for FITB in the upcoming period, according to Robert W. Baird is $32 based on the research report published on April 01, 2024 of the current year 2024.
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 3.36% 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 -3.10% of loss for the given period.
Volatility was left at 2.32%, however, over the last 30 days, the volatility rate increased by 2.85%, as shares sank -2.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.66% upper at present.
During the last 5 trading sessions, FITB rose by +4.98%, which changed the moving average for the period of 200-days by +36.59% in comparison to the 20-day moving average, which settled at $35.59. In addition, Fifth Third Bancorp saw 5.10% 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 12.36, with 1.09 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 4.21. 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 0.33.
Conclusion
To sum up, Fifth Third Bancorp (FITB) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
