Fifth Third Bancorp (NASDAQ: FITB)’s stock price has plunge by 0.07relation to previous closing price of 42.91. Nevertheless, the company has seen a -0.69% plunge in its stock price over the last five trading sessions. zacks.com reported 2024-09-27 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?
Is It Worth Investing in Fifth Third Bancorp (NASDAQ: FITB) Right Now?
Fifth Third Bancorp (NASDAQ: FITB) has a price-to-earnings ratio of 13.72x that is above its average ratio. Additionally, the 36-month beta value for FITB is 1.24. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 22 rating it as “hold,” and 2 rating it as “sell.”
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The public float for FITB is 673.33M and currently, short sellers hold a 3.06% ratio of that float. The average trading volume of FITB on September 30, 2024 was 4.28M shares.
FITB’s Market Performance
The stock of Fifth Third Bancorp (FITB) has seen a -0.69% decrease in the past week, with a 1.75% rise in the past month, and a 17.68% gain in the past quarter. The volatility ratio for the week is 1.82%, and the volatility levels for the past 30 days are at 2.21% for FITB. The simple moving average for the past 20 days is 1.77% for FITB’s stock, with a 15.75% simple moving average for the past 200 days.
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 3.91% 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 -2.06% of loss for the given period.
Volatility was left at 2.21%, however, over the last 30 days, the volatility rate increased by 1.82%, as shares surge +1.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.74% upper at present.
During the last 5 trading sessions, FITB fell by -0.69%, which changed the moving average for the period of 200-days by +39.01% in comparison to the 20-day moving average, which settled at $42.23. In addition, Fifth Third Bancorp saw 24.50% 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 Garrett Kristine R., who sale 7,100 shares at the price of $41.72 back on Sep 09 ’24. After this action, Garrett Kristine R. now owns 63,813 shares of Fifth Third Bancorp, valued at $296,213 using the latest closing price.
Garrett Kristine R., the Officer of Fifth Third Bancorp, proposed sale 7,100 shares at $41.43 during a trade that took place back on Sep 09 ’24, which means that Garrett Kristine R. is holding shares at $294,153 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 1.3.
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 3.84. The receivables turnover for the company is 4.52for trailing twelve months and the total asset turnover is 0.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.27.
Conclusion
In conclusion, Fifth Third Bancorp (FITB) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
