The stock price of Fifth Third Bancorp (NASDAQ: FITB) has jumped by 1.13 compared to previous close of 47.90. Despite this, the company has seen a gain of 3.46% in its stock price over the last five trading days. businesswire.com reported 2024-11-25 that CINCINNATI–(BUSINESS WIRE)–Fifth Third Bancorp (Nasdaq: FITB) will participate in the 2024 Goldman Sachs U.S. Financial Services Conference on December 11, 2024 at approximately 8:00 AM ET. Tim Spence, chairman, chief executive officer and president, and Bryan Preston, executive vice president and chief financial officer, will represent the Company. Audio webcast and any presentation slides may be viewed live and for approximately 14 days after the conference through the Investor Relations se.
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 16.16x, Company’s 36-month beta value is 1.24.Analysts have differing opinions on the stock, with 6 analysts rating it as a “buy,” 5 as “overweight,” 22 as “hold,” and 2 as “sell.”
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The public float for FITB is 667.06M, and currently, short sellers hold a 3.46% ratio of that floaft. The average trading volume of FITB on November 26, 2024 was 4.07M shares.
FITB’s Market Performance
FITB’s stock has seen a 3.46% increase for the week, with a 12.08% rise in the past month and a 16.14% gain in the past quarter. The volatility ratio for the week is 1.87%, and the volatility levels for the past 30 days are at 1.89% for Fifth Third Bancorp The simple moving average for the last 20 days is 5.44% for FITB’s stock, with a simple moving average of 23.37% for the last 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 9.37% 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 able to rebound, for now settling with 0.71% of gains for the given period.
Volatility was left at 1.89%, however, over the last 30 days, the volatility rate increased by 1.87%, as shares surge +9.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.30% upper at present.
During the last 5 trading sessions, FITB rose by +3.46%, which changed the moving average for the period of 200-days by +43.95% in comparison to the 20-day moving average, which settled at $45.94. In addition, Fifth Third Bancorp saw 40.45% 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 Shaffer Robert P, who proposed sale 25,000 shares at the price of $48.65 back on Nov 25 ’24. After this action, Shaffer Robert P now owns shares of Fifth Third Bancorp, valued at $1,216,194 using the latest closing price.
Garrett Kristine R., the EVP of Fifth Third Bancorp, sale 7,500 shares at $43.67 during a trade that took place back on Oct 28 ’24, which means that Garrett Kristine R. is holding 55,913 shares at $327,526 based on the most recent closing price.
Stock Fundamentals for FITB
Current profitability levels for the company are sitting at:
- 0.4 for the present operating margin
- 1.11 for the gross margin
The net margin for Fifth Third Bancorp stands at 0.18. The total capital return value is set at 0.02. Equity return is now at value 11.92, with 1.04 for asset returns.
Based on Fifth Third Bancorp (FITB), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.26. The debt to equity ratio resting at 0.87. The interest coverage ratio of the stock is 1.22.
Currently, EBITDA for the company is 3.47 billion with net debt to EBITDA at 5.75. When we switch over and look at the enterprise to sales, we see a ratio of 3.92. The receivables turnover for the company is 4.23for 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 0.29.
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.
