The price of Fifth Third Bancorp (NASDAQ:FITB) shares last traded on Wall Street rose 1.97% to $36.74.
FITB stock price is now 5.92% away from the 50-day moving average and 24.78% away from the 200-day moving average. The market capitalization of the company currently stands at $25.11B.
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, Schramm Jude, EVP & CIO sold 5,000 shares of the company’s stock on Mar 25 ’24. The stock was sold for $181,900 at an average price of $36.38. Upon completion of the transaction, the EVP & CIO now directly owns 139,422 shares in the company, valued at $5.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 11 ’24, EVP & Chief Operating Officer Leonard James C. sold 26,500 shares of the business’s stock. A total of $971,606 was realized by selling the stock at an average price of $36.66. This leaves the insider owning 229,344 shares of the company worth $8.43 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 $37.36. The fifty day moving average price for FITB is $34.75 and a two-hundred day moving average price translates $29.49 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.
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.
