In yesterday’s Wall Street session, Fifth Third Bancorp (NASDAQ:FITB) shares traded at $35.28, down -0.95% from the previous session.
FITB stock price is now -3.88% away from the 50-day moving average and 10.42% away from the 200-day moving average. The market capitalization of the company currently stands at $24.13B.
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With the price target maintained at $43, Wolfe Research recently Upgraded its rating from Peer Perform to Outperform for Fifth Third Bancorp (NASDAQ: FITB). On May 01, 2024, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $37.50 to quote $39.50, while ‘Robert W. Baird’ rates the stock as ‘Neutral’
In other news, Feiger Mitchell Stuart, Director sold 76,011 shares of the company’s stock on May 13 ’24. The stock was sold for $2,922,319 at an average price of $38.45. Upon completion of the transaction, the Director now directly owns 32,915 shares in the company, valued at $1.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 01 ’24, EVP & CIO Schramm Jude sold 2,500 shares of the business’s stock. A total of $93,750 was realized by selling the stock at an average price of $37.50. This leaves the insider owning 136,922 shares of the company worth $4.83 million. A total of 0.65% of the company’s stock is owned by insiders.
During the past 12 months, Fifth Third Bancorp has had a low of $22.49 and a high of $39.14. According to the stock market information, the enterprise value for the company is $42133671936, which is based on a 11.25 price-to-earnings ratio, a 6.25 price-to-earnings-growth ratio, and a beta of 1.26. The fifty day moving average price for FITB is $36.7054 and a two-hundred day moving average price translates $31.9511 for the stock.
The latest earnings results from Fifth Third Bancorp (NASDAQ: FITB) was released for 2024-03-31. According to the Banks – Regional Company, earnings per share came in at 0.82, missing analysts’ expectations of 0.83 by -0.01. This compares to $0.78 EPS in the same period last year. The net profit margin was 16.66% and return on equity was 12.36% for FITB. The company reported revenue of $2.61 billion for the quarter, compared to $2.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.85 percent. For the current quarter, analysts expect FITB to generate $2.14B in revenue.
Fifth Third Bancorp(FITB) Company Profile
Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. The Consumer and Small Banking segment provides a range of deposit and loan products to individuals and small businesses; home equity loans and lines of credit; credit cards; and cash management services. This segment also engages in the residential mortgage that include origination, retention and servicing of residential mortgage loans, sales and securitizations of loans, and hedging activities; indirect lending, including extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers, and marine dealers; and home improvement and solar energy installation loans through contractors and installers. The Wealth & Asset Management segment provides various wealth management services for individuals, companies, and not-for-profit organizations. It offers retail brokerage services to individual clients; and broker dealer services to the institutional marketplace. This segment also provides wealth planning, investment management, banking, insurance, and trust and estate services; and advisory services for institutional clients comprising middle market businesses, non-profits, states, and municipalities. The company was founded in 1858 and is headquartered in Cincinnati, Ohio.
