In the past week, FITB stock has gone up by 0.84%, with a monthly gain of 2.80% and a quarterly surge of 2.01%. The volatility ratio for the week is 2.87%, and the volatility levels for the last 30 days are 2.59% for Fifth Third Bancorp The simple moving average for the last 20 days is -2.64% for FITB’s stock, with a simple moving average of 14.22% for the last 200 days.
Is It Worth Investing in Fifth Third Bancorp (NASDAQ: FITB) Right Now?
The price-to-earnings ratio for Fifth Third Bancorp (NASDAQ: FITB) is 12.64x, which is above its average ratio. Moreover, the 36-month beta value for FITB is 1.25. Analysts have varying opinions 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 672.43M and currently, short sellers hold a 3.63% of that float. On August 12, 2024, FITB’s average trading volume was 4.35M shares.
FITB) stock’s latest price update
Fifth Third Bancorp (NASDAQ: FITB) has experienced a decline in its stock price by -0.23 compared to its previous closing price of 39.65. However, the company has seen a gain of 0.84% in its stock price over the last five trading days. zacks.com reported 2024-08-09 that Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Fifth Third Bancorp (FITB) have what it takes?
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 3.95% 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 -7.81% of loss for the given period.
Volatility was left at 2.59%, however, over the last 30 days, the volatility rate increased by 2.87%, as shares surge +1.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.81% upper at present.
During the last 5 trading sessions, FITB rose by +0.99%, which changed the moving average for the period of 200-days by +72.41% in comparison to the 20-day moving average, which settled at $40.65. In addition, Fifth Third Bancorp saw 14.69% 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 Lavender Kevin P, who sale 20,000 shares at the price of $41.77 back on Jul 24 ’24. After this action, Lavender Kevin P now owns 125,087 shares of Fifth Third Bancorp, valued at $835,369 using the latest closing price.
Feiger Mitchell Stuart, the Director of Fifth Third Bancorp, sale 12,000 shares at $41.21 during a trade that took place back on Jul 24 ’24, which means that Feiger Mitchell Stuart is holding 20,961 shares at $494,524 based on the most recent closing price.
Stock Fundamentals for FITB
Current profitability levels for the company are sitting at:
- 0.41 for the present operating margin
- 1.0 for the gross margin
The net margin for Fifth Third Bancorp stands at 0.19. The total capital return value is set at 0.04. Equity return is now at value 12.48, with 1.10 for asset returns.
Based on Fifth Third Bancorp (FITB), the company’s capital structure generated 0.51 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 1.03. The interest coverage ratio of the stock is 1.74.
Currently, EBITDA for the company is 481.0 million with net debt to EBITDA at 19.92. When we switch over and look at the enterprise to sales, we see a ratio of 3.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.27.
Conclusion
To wrap up, the performance of Fifth Third Bancorp (FITB) has been better in recent times. The stock has received a mixed of “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.
