Stocks of Fifth Third Bancorp (NASDAQ:FITB) traded higher last session on Wall Street, up 2.71% to $40.22.
FITB stock price is now 8.77% away from the 50-day moving average and 21.54% away from the 200-day moving average. The market capitalization of the company currently stands at $27.51B.
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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 $1.32 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 $5.51 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 $39.53. According to the stock market information, the enterprise value for the company is $45280276480, which is based on a 12.83 price-to-earnings ratio, a 7.54 price-to-earnings-growth ratio, and a beta of 1.26. The fifty day moving average price for FITB is $37.0436 and a two-hundred day moving average price translates $33.16775 for the stock.
The latest earnings results from Fifth Third Bancorp (NASDAQ: FITB) was released for 2024-03-31. 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.
