The stock of Fifth Third Bancorp (NASDAQ:FITB) last traded at $27.36, down -1.12% from the previous session.
Data from the available sources indicates that Fifth Third Bancorp (NASDAQ:FITB) is covered by 26 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $34.00 and a low of $26.00, we find $31.00. Given the previous closing price of $27.67, this indicates a potential upside of 12.03 percent. FITB stock price is now 8.33% away from the 50-day moving average and 0.46% away from the 200-day moving average. The market capitalization of the company currently stands at $18.63B.
In total, 8 analysts have assigned it a hold rating, and 14 have given it a buy rating. Brokers who have rated the stock have averaged $30.79 as their price target over the next twelve months.
In other news, Daniels C. Bryan, Director bought 64,500 shares of the company’s stock on Oct 30. The stock was bought for $1,503,495 at an average price of $23.31. Upon completion of the transaction, the Director now directly owns 325,278 shares in the company, valued at $8.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 03, Director Bayh Evan bought 5,000 shares of the business’s stock. A total of $124,100 was incurred on buying the stock at an average price of $24.82. This leaves the insider owning 73,700 shares of the company worth $2.02 million. Insiders disposed of 198,365 shares of company stock worth roughly $5.43 million over the past 1 year. A total of 0.55% of the company’s stock is owned by insiders.
With an opening price of $27.38 on Tuesday morning, Fifth Third Bancorp (NASDAQ: FITB) set off the trading day. During the past 12 months, Fifth Third Bancorp has had a low of $22.11 and a high of $38.06. The fifty day moving average price for FITB is $25.25 and a two-hundred day moving average price translates $27.19 for the stock.
The latest earnings results from Fifth Third Bancorp (NASDAQ: FITB) was released for Sep, 2023. The net profit margin was 20.16% and return on equity was 15.35% for FITB. The company reported revenue of $2.53 billion for the quarter, compared to $1.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.69 percent.
Fifth Third Bancorp(FITB) Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company’s 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 company’s 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. Fifth Third Bancorp’s 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. Fifth Third Bancorp was founded in 1858 and is headquartered in Cincinnati, Ohio.
