There Is Clear Momentum For Fifth Third Bancorp (NASDAQ: FITB)

Fifth Third Bancorp (FITB) concluded trading on Wednesday at a closing price of $35.84, with 3.22 million shares of worth about $115.47 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 46.29% during that period and on April 3, 2024 the price saw a loss of about -0.39%. Currently the company’s common shares owned by public are about 681.12M shares, out of which, 679.06M shares are available for trading.

However, the stock later moved at a day high price of 36.97, or with a loss of -0.39%. Stock saw a price change of -0.53% in past 5 days and over the past one month there was a price change of 1.01%. Year-to-date (YTD), FITB shares are showing a performance of 3.91% which increased to 34.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.46 but also hit the highest price of $37.41 during that period. The average intraday trading volume for Fifth Third Bancorp shares is 5.59 million. The stock is currently trading -1.20% below its 20-day simple moving average (SMA20), while that difference is up 2.63% for SMA50 and it goes to 20.87% higher than SMA200.

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Fifth Third Bancorp (NASDAQ: FITB) currently have 681.12M outstanding shares and institutions hold larger chunk of about 85.08% of that.

The stock has a current market capitalization of $24.50B and its 3Y-monthly beta is at 1.27. PE ratio of stock for trailing 12 months is 11.14, while it has posted earnings per share of $3.22 in the same period. Its PEG reads 2.30 while making debt-to-equity ratio of 1.05. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FITB, volatility over the week remained 1.92% while standing at 2.18% over the month.

Stock’s fiscal year EPS is expected to drop by -0.79% while it is estimated to increase by 10.14% in next year. EPS is likely to grow at an annualized rate of 4.84% for next 5-years, compared to annual growth of 1.03% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Robert W. Baird on April 01, 2024 offering a Neutral rating for the stock and assigned a target price of $32 to it. Coverage by Stephens stated Fifth Third Bancorp (FITB) stock as an Equal-weight in their note to investors on March 19, 2024, suggesting a price target of $41 for the stock. Stock get an Outperform rating from Keefe Bruyette on April 06, 2023.

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