The trading price of Fifth Third Bancorp (NASDAQ:FITB) floating lower at last check on Tuesday, October 12, closing at $43.44, -0.11% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $43.48 and $44.49. The company’s P/E ratio in the trailing 12-month period was 12.68, while its 5Y monthly beta was 1.49. In examining the 52-week price action we see that the stock hit a 52-week high of $44.49 and a 52-week low of $22.10. Over the past month, the stock has gained 12.49% in value.
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Fifth Third Bancorp, whose market valuation is $29.97 billion at the time of this writing, is expected to release its quarterly earnings report Oct 19, 2021. The dividend yield on the company stock is 2.48%, while its Forward Dividend ratio is 1.08. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.9 per share this quarter, however they have predicted annual earnings per share of $3.64 for 2021 and $3.27 for 2022. It means analysts are expecting annual earnings per share growth of 98.90% this year and -10.20% next year.
Analysts have forecast the company to bring in revenue of $1.97 billion for the current quarter, with the likely lows of $1.93 billion and highs of $2.05 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $7.87 billion. The company’s revenue is forecast to grow by 3.20% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Fifth Third Bancorp 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest FITB has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned FITB a recommendation rating is 22. Out of them, 7 rate it a Hold, while 12 recommend Buy, whereas 2 assign an Overweight rating. 1 analyst(s) have tagged Fifth Third Bancorp (FITB) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that FITB’s price is currently 3.80% off the SMA20 and 9.57% off the SMA50. The RSI metric on the 14-day chart is currently showing 62.91, and weekly volatility stands at 2.08%. When measured over the past 30 days, the indicator reaches 2.56%. Fifth Third Bancorp (NASDAQ:FITB)’s beta value is currently sitting at 1.52, while the Average True Range indicator is currently displaying 1.05. With analysts defining $38.00-$52.00 as the low and high price targets, we arrive at a consensus price target of $45.82 for the trailing 12-month period. The current price is about 12.52% off the estimated low and -19.71% off the forecast high, based on this estimate. Investors will be thrilled if FITB’s share price rises to $46.00, which is the median consensus price. At that level, FITB’s share price would be -5.89% below current price.
To see how Fifth Third Bancorp stock has been performing today in comparison to its peers in the industry, here are the numbers: FITB stock’s performance was -0.11% at last check in today’s session, and 86.01% in the past year, while JPMorgan Chase & Co. (JPM) has been trading -0.36% in recent session and positioned 64.66% higher than it was a year ago. Another comparable company Bank of America Corporation (BAC) saw its stock trading -0.08% lower in today’s session but was up 72.63% in a year. Furthermore, Wells Fargo & Company (WFC) showed a decrease of -0.13% today while its price kept inclining at 86.88% over the past year. Fifth Third Bancorp has a P/E ratio of 12.68, compared to JPMorgan Chase & Co.’s 11.11 and Bank of America Corporation’s 14.65. Also during today’s trading, the S&P 500 Index has surged 0.26%, while the Dow Jones Industrial also saw a positive session, up 0.29% today.
An evaluation of the daily trading volume of Fifth Third Bancorp (NASDAQ:FITB) indicates that the 3-month average is 4.98 million.
Currently, records show that 708.83 million of the company’s shares remain outstanding. The insiders hold 0.20% of outstanding shares, whereas institutions hold 83.70%. However, since the stock’s price has seen 57.74% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.