Fifth Third Bancorp (NASDAQ:FITB) shares, rose in value on Thursday, November 21, with the stock price up by 1.75% to the previous day’s close as strong demand from buyers drove the stock to $47.12.
Actively observing the price movement in the last trading, the stock closed the session at $46.31, falling within a range of $46.24 and $47.55. The value of beta (5-year monthly) was 1.231 whereas the PE ratio was 15.72 over 12-month period. Referring to stock’s 52-week performance, its high was $48.10, and the low was $26.89. On the whole, FITB has fluctuated by 7.41% over the past month.
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With the market capitalization of Fifth Third Bancorp currently standing at about $31.60 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 1.42, with its dividend yield at 3.01%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 8.56B, with a low estimate of 2.17B and a high estimate of 2.22B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 2.21B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that FITB’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.67, with the price of FITB currently trading nearly 3.59% and 6.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.59, while the 7-day volatility ratio is showing 1.83% which for the 30-day chart, stands at 1.92%. Furthermore, Fifth Third Bancorp (FITB)’s beta value is 1.23, and its average true range (ATR) is 0.98.
A comparison of Fifth Third Bancorp (FITB) with its peers suggests the former has fared considerably weaker in the market. FITB showed an intraday change of 1.75% in last session, and over the past year, it grew by 72.22%%.
Data on historical trading for Fifth Third Bancorp (NASDAQ:FITB) indicates that the trading volumes over the past 10 days have averaged 3.38 and over the past 3 months, they’ve averaged 4.05 million. According to company’s latest data on outstanding shares, there are 681.12 million shares outstanding.
Nearly 0.52% of Fifth Third Bancorp’s shares belong to company insiders and institutional investors own 85.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.05 million shares as on 2024-10-31, resulting in a short ratio of 5.39. According to the data, the short interest in Fifth Third Bancorp (FITB) stood at 397.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 20.76 million. The stock has risen by 36.62% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FITB stock heading into the next quarter.
