Wolfe Research has recently raised Fifth Third Bancorp (FITB) stock to Outperform rating, as announced on May 31, 2024, according to Finviz. Earlier, on May 1, 2024, JP Morgan had raised the stock from a Neutral to Overweight, setting a price target of $39.50 for FITB stock. Robert W. Baird also reduced Neutral rating with a price target of $32. Additionally, Stephens reduced rating on March 19, 2024, with a target price of $41. Keefe Bruyette analysts, in their report published on January 9, 2024, also reduced Mkt Perform rating and set a price target of $33 for Fifth Third Bancorp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Fifth Third Bancorp (FITB) Stock Trading Recap
On Friday, Fifth Third Bancorp (FITB) stock saw a decline, ending the day at $47.7 which represents a decrease of $-0.46 or -0.96% from the prior close of $48.16. The stock opened at $48.45 and touched a low of $47.63 during the day, reaching a high of $48.5. The volume of shares traded was 2.03 million falling short of the average volume of 4.14 million.
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FITB Stock Performance and Moving Averages
In recent trading, Fifth Third Bancorp (FITB) stock price has shown some volatility, fluctuating 1.23% over the last five trades and 8.21% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 27.47%, and it has gained 11.74% in the previous three months. Currently, FITB is trading at 2.45%, 6.96%, and 20.82% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, FITB, a Financial sector stock, is trading -2.79% below its 52-week high but remains 77.39% above its 52-week low. The Average True Range (ATR) (14 days) of 0.95 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Fifth Third Bancorp’s Profitability and Valuation Ratios
Fifth Third Bancorp’s profitability metrics reveal financial health. The company currently boasts an operating margin of 20.87% and a profit margin of 15.23%, with a gross margin of 27.47%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Fifth Third Bancorp’s market capitalization stands at $31.98 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 15.91, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 13.07. Additionally, the Price-to-Sales Ratio is 2.36, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.73, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.52% of Fifth Third Bancorp (FITB)’s shares, while financial institutions hold 85.67%.
Notable insider trades include Shaffer Robert P, EVP and Chief Risk Officer at Fifth Third Bancorp (FITB), who sold 25000 shares on Nov 25 ’24, at $48.65 each, totaling $1.22 million. On Oct 28 ’24, Garrett Kristine R., EVP, sold 7500 shares for $43.67 each, amounting to $0.33 million. Additionally, on Sep 09 ’24, Garrett Kristine R. sold 7100 shares at $41.72 each, generating $0.30 million.
