Currently, Fifth Third Bancorp [FITB] is trading at $37.01, up 1.09%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The FITB shares have gain 4.49% over the last week, with a monthly amount glided 10.51%, and seem to be holding up well over a long-time horizon.
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On 20, March 2024, Fifth Third Bank Recognized Among 2024 Top Workplaces USA. In a post published today on Yahoo Finance, For the third consecutive year, Fifth Third Bank has earned a Top Workplaces USA award. The Top Workplaces program has a 15-year history of surveying more than 20 million employees and recognizing the top organizations across 60 markets.
From an analyst’s perspective:
Fifth Third Bancorp [NASDAQ: FITB] stock has seen the most recent analyst activity on March 19, 2024, when Stephens downgraded its rating to a Equal-Weight but kept the price target unchanged to $41 for it. Previously, Keefe Bruyette downgraded its rating to Mkt Perform on January 09, 2024, and elevated its price target to $37. On August 24, 2023, Raymond James initiated with a Mkt Perform rating. Keefe Bruyette upgraded its rating to a Outperform and decreased its price target to $34 on April 06, 2023. DA Davidson initiated its recommendation with a Neutral and recommended $36 as its price target on December 21, 2022.
This stock has fluctuated between a low of $22.46 and a high of $37.03 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $39.5 within the next 12 months. Fifth Third Bancorp [NASDAQ: FITB] shares were valued at $37.01 at the most recent close of the market. An investor can expect a potential return of 6.73% based on the average FITB price forecast.
Analyzing the FITB fundamentals
Trailing Twelve Months sales for Fifth Third Bancorp [NASDAQ:FITB] were 12.70B which represents 24.42% growth. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.58%, Pretax Profit Margin comes in at 0.3%, and Net Profit Margin reading is 0.24%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.13 and Total Capital is 0.05. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 36.69 points at the first support level, and at 36.37 for the second support level. However, for the 1st resistance point, the stock is sitting at 37.34, and for the 2nd resistance point, it is at 37.68.
Fifth Third Bancorp [FITB] reported earnings per share of $0.96 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.85/share, meaning a difference of $0.11 and a surprise factor of 12.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.91 per share as compared to estimates of $0.82 per share, a difference of $0.09 representing a surprise of 11.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Fifth Third Bancorp [NASDAQ:FITB] is 0.29. Considering the valuation of this stock, the price to sales ratio is 1.99, the price to book ratio is 1.48 and price to earnings (TTM) ratio is 11.51.
Transactions by insiders
Recent insider trading involved Leonard James C., EVP & Chief Operating Officer, that happened on Mar 11 ’24 when 26500.0 shares were sold. EVP, Lavender Kevin P completed a deal on Feb 26 ’24 to sell 15000.0 shares. Meanwhile, Chair, CEO & President Spence Timothy sold 5447.0 shares on Feb 16 ’24.
