The stock of Fifth Third Bancorp (NASDAQ:FITB) last traded at $36.61, up 3.33% from the previous session.
FITB stock price is now 5.96% away from the 50-day moving average and 25.41% away from the 200-day moving average. The market capitalization of the company currently stands at $25.02B.
With the price target maintained at $41, Stephens recently Downgraded its rating from Overweight to Equal-Weight for Fifth Third Bancorp (NASDAQ: FITB). On January 09, 2024, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock increasing its target price from $33 to quote $37, while ‘Raymond James’ rates the stock as ‘Mkt Perform’
In other news, Leonard James C., EVP & Chief Operating Officer sold 26,500 shares of the company’s stock on Mar 11 ’24. The stock was sold for $971,606 at an average price of $36.66. Upon completion of the transaction, the EVP & Chief Operating Officer now directly owns 229,344 shares in the company, valued at $8.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 26 ’24, EVP Lavender Kevin P sold 15,000 shares of the business’s stock. A total of $501,675 was realized by selling the stock at an average price of $33.45. This leaves the insider owning 82,930 shares of the company worth $3.04 million. A total of 0.66% of the company’s stock is owned by insiders.
During the past 12 months, Fifth Third Bancorp has had a low of $22.46 and a high of $37.03. The fifty day moving average price for FITB is $34.57 and a two-hundred day moving average price translates $29.25 for the stock.
The latest earnings results from Fifth Third Bancorp (NASDAQ: FITB) was released for Dec, 2023. According to the Banks – Regional Company, earnings per share came in at $0.96, beating analysts’ expectations of $0.85 by 0.11. This compares to $1.00 EPS in the same period last year. The net profit margin was 17.41% and return on equity was 12.87% for FITB. The company reported revenue of $2.65 billion for the quarter, compared to $2.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.68 percent. For the current quarter, analysts expect FITB to generate $2.09B in revenue.
