Fifth Third Bancorp (FITB): Street Finally Waking Up

Currently, there are 681.12M common shares owned by the public and among those 673.27M shares have been available to trade.

The company’s stock has a 5-day price change of 6.33% and 8.90% over the past three months. FITB shares are trading 29.46% year to date (YTD), with the 12-month market performance up to 83.97% higher. It has a 12-month low price of $22.49 and touched a high of $44.42 over the same period. FITB has an average intraday trading volume of 4.03 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 4.34%, 6.95%, and 18.54% respectively.

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Institutional ownership of Fifth Third Bancorp (NASDAQ: FITB) shares accounts for 86.56% of the company’s 681.12M shares outstanding.

It has a market capitalization of $30.22B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 14.27, while the earnings-per-share (ttm) stands at $3.13. The company has a PEG of 1.67 and the debt-to-equity ratio at 1.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.30% over the week and 2.01% over the month.

Earnings per share for the fiscal year are expected to increase by 0.23%, and 11.57% over the next financial year. EPS should grow at an annualized rate of 8.57% 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. Wolfe Research stated their Outperform rating for the stock in a research note on May 31, 2024, with the firm’s price target at $43. JP Morgan coverage for the Fifth Third Bancorp (FITB) stock in a research note released on May 01, 2024 offered a Overweight rating with a price target of $39.50. Robert W. Baird was of a view on April 01, 2024 that the stock is Neutral, while Stephens gave the stock Equal-Weight rating on March 19, 2024, issuing a price target of $41. Keefe Bruyette on their part issued Mkt Perform rating on January 09, 2024.

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