Fifth Third Bancorp (NASDAQ: FITB) – Suitable For Long Term Buy?

Currently, there are 681.12M common shares owned by the public and among those 679.08M shares have been available to trade.

However, the script later moved the day high at 34.69, up 0.26%. The company’s stock has a 5-day price change of -4.29% and 0.76% over the past three months. FITB shares are trading 0.38% year to date (YTD), with the 12-month market performance up to 30.30% higher. It has a 12-month low price of $22.46 and touched a high of $37.41 over the same period. FITB has an average intraday trading volume of 5.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.63%, -1.14%, and 15.33% respectively.

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Institutional ownership of Fifth Third Bancorp (NASDAQ: FITB) shares accounts for 84.28% of the company’s 681.12M shares outstanding.

It has a market capitalization of $23.66B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 10.76, while the earnings-per-share (ttm) stands at $3.22. The company has a PEG of 2.22 and the debt-to-equity ratio at 1.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.46% over the week and 2.30% over the month.

Earnings per share for the fiscal year are expected to decrease by -0.79%, and 10.06% over the next financial year. EPS should grow at an annualized rate of 4.84% over the next five years, compared to 1.03% over the past 5-year period.

Looking at the support for the FITB, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on April 01, 2024, with the firm’s price target at $32. Stephens coverage for the Fifth Third Bancorp (FITB) stock in a research note released on March 19, 2024 offered a Equal-Weight rating with a price target of $41. Keefe Bruyette on their part issued Outperform rating on April 06, 2023.

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