In the past week, FITB stock has gone down by -2.52%, with a monthly decline of -9.65% and a quarterly plunge of -0.06%. The volatility ratio for the week is 2.20%, and the volatility levels for the last 30 days are 1.97% for Fifth Third Bancorp The simple moving average for the past 20 days is -4.28% for FITB’s stock, with a 9.72% simple moving average for the past 200 days.
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 11.23x compared to its average ratio. FITB has 36-month beta value of 1.26. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 22 as “hold,” and 2 as “sell.”
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The public float for FITB is 679.61M, and currently, short sellers hold a 2.92% ratio of that float. The average trading volume of FITB on June 17, 2024 was 4.49M shares.
FITB) stock’s latest price update
Fifth Third Bancorp (NASDAQ: FITB)’s stock price has decreased by -1.10 compared to its previous closing price of 35.61. However, the company has seen a -2.52% decrease in its stock price over the last five trading sessions. businesswire.com reported 2024-06-13 that CINCINNATI–(BUSINESS WIRE)–Today, Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series H preferred shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares. Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its common shares of $0.35 per share for the second quarter of 2024. The dividend is payable on July 15, 2024 to shareholders of recor.
Analysts’ Opinion of FITB
Many brokerage firms have already submitted their reports for FITB stocks, with Wolfe Research repeating the rating for FITB by listing it as a “Outperform.” The predicted price for FITB in the upcoming period, according to Wolfe Research is $43 based on the research report published on May 31, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see FITB reach a price target of $39.50, previously predicting the price at $37.50. The rating they have provided for FITB stocks is “Overweight” according to the report published on May 01st, 2024.
Robert W. Baird gave a rating of “Neutral” to FITB, setting the target price at $32 in the report published on April 01st of the current year.
FITB Trading at -3.96% 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 -10.02% of loss for the given period.
Volatility was left at 1.97%, however, over the last 30 days, the volatility rate increased by 2.20%, as shares sank -8.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.17% lower at present.
During the last 5 trading sessions, FITB fell by -2.52%, which changed the moving average for the period of 200-days by +33.16% in comparison to the 20-day moving average, which settled at $36.63. In addition, Fifth Third Bancorp saw 2.12% 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 Feiger Mitchell Stuart, who sale 76,011 shares at the price of $38.45 back on May 13 ’24. After this action, Feiger Mitchell Stuart now owns 32,915 shares of Fifth Third Bancorp, valued at $2,922,319 using the latest closing price.
Schramm Jude, the EVP & CIO of Fifth Third Bancorp, sale 2,500 shares at $37.50 during a trade that took place back on May 01 ’24, which means that Schramm Jude is holding 136,922 shares at $93,750 based on the most recent closing price.
Stock Fundamentals for FITB
Current profitability levels for the company are sitting at:
- 0.46 for the present operating margin
- 1.0 for the gross margin
The net margin for Fifth Third Bancorp stands at 0.21. The total capital return value is set at 0.04. 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 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 0.97. The interest coverage ratio of the stock is 1.42.
Currently, EBITDA for the company is 481.0 million with net debt to EBITDA at 9.62. When we switch over and look at the enterprise to sales, we see a ratio of 3.69. The receivables turnover for the company is 4.29for 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
To put it simply, Fifth Third Bancorp (FITB) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
