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NASDAQ:FITB

Fifth Third Bancorp (FITB) Stock Price, News & Analysis

$36.23
+0.22 (+0.61%)
(As of 07/8/2024 ET)
Today's Range
$35.89
$36.50
50-Day Range
$35.22
$38.98
52-Week Range
$22.49
$39.14
Volume
2.84 million shs
Average Volume
4.26 million shs
Market Capitalization
$24.78 billion
P/E Ratio
11.50
Dividend Yield
3.86%
Price Target
$38.15

Fifth Third Bancorp MarketRank™ Stock Analysis

Analyst Rating
Hold
2.47 Rating Score
Upside/​Downside
5.3% Upside
$38.15 Price Target
Short Interest
Bearish
3.90% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-0.48
Upright™ Environmental Score
News Sentiment
0.98mentions of Fifth Third Bancorp in the last 14 days
Based on 7 Articles This Week
Insider Trading
Selling Shares
$634,248 Sold Last Quarter
Proj. Earnings Growth
8.21%
From $3.29 to $3.56 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.71 out of 5 stars

Finance Sector

63rd out of 822 stocks

State Commercial Banks Industry

16th out of 170 stocks

FITB stock logo

About Fifth Third Bancorp Stock (NASDAQ:FITB)

Fifth Third Bancorp is a regional bank holding company headquartered in Cincinnati, Ohio. It operates under its primary subsidiary, Fifth Third Bank, which has a presence in 10 states in the Midwest and Southeast regions of the United States. Fifth Third Bank offers a wide range of financial services, including retail and commercial banking, investment and insurance services, consumer finance, and payment processing. The bank has over 1,100 banking centers and over 2,400 ATMs, serving individual, commercial, and corporate customers.

Fifth Third Bancorp traces its history back to the 1850s when the Bank of the Ohio Valley was founded in Cincinnati. In 1908, the bank merged with The Fifth National Bank of Cincinnati and the new entity was named the Fifth Third National Bank of Cincinnati. Fifth Third is derived from the two predecessor banks, the fifth and third banks to merge nationally. 

Over the years, the bank grew through several mergers and acquisitions, including the purchase of Old Kent Bank in 2001, First Charter Corporation in 2008, and MB Financial in 2019. Fifth Third Bancorp's acquisition of Hammond Hanlon Camp LLC (H2C) in Q1 of 2021, a healthcare-focused investment banking firm, is expected to strengthen the bank's investment banking capabilities. The acquisition will enable Fifth Third to expand its healthcare expertise and offer more comprehensive financial solutions to healthcare clients. Fifth Third also recently announced the completion of its acquisition of Provide, a digital health startup that offers a platform for connecting patients to social care providers. The acquisition will allow Fifth Third to leverage technology and data to provide better healthcare services to its customers.

President and Chief Executive Officer Tim Spence leads Fifth Third Bancorp's executive leadership team. Tim took the reigns from iconic Fifth Third Bank CEO Greg Carmichael, who retired in Q2 of 2022 and handed the reigns over to Mr. Spence. Greg Carmichael is now the leader of the Board of Directors as Mr. Spence assumes his new role. Mr. Spence was promoted internally and joined the bank in 2015.  

Fifth Third Bancorp has shown steady financial performance over the past few years. The company's revenue and net income have remained steady over the past few years, indicating the bank's stability. The company's net interest margin is around 3%, and its efficiency ratio is approximately 50%, indicating a solid cost management ability. Fifth Third's balance sheet shows ample assets, with more than enough to cover its loans and leases. The company's debt-to-equity ratio is approximately .80, indicating a moderate level of leverage. The company's capital position is strong, with a CET1 ratio of around 10%, roughly double the regulatory minimum. 

Fifth Third Bancorp's valuation metrics indicate that the company is reasonably priced compared to its peers. The company's price-to-earnings and price-to-book are both lower than the industry average. This suggests that Fifth Third Bancorp is not overvalued relative to its peers.

Fifth Third Bancorp's stock performance has been positive over the recent past. The company suffered from a Q1 2020 pandemic-related drop and a Q1 2023 banking crisis drop consistent with industry peers. The company's stock price has been increasing despite these issues. The stock routinely outperforms the broader S&P 500. In the first quarter of 2022, the company repurchased $350 million of its common stock, reflecting management's confidence in its long-term prospects.

The banking industry is highly competitive and has various regulatory and political risks. Fifth Third Bancorp faces intense competition from other regional banks, larger national banks, and non-bank financial institutions, such as fintech companies. The industry is also subject to various regulatory and compliance requirements, which can increase costs and limit growth opportunities. Additionally, changes in interest rates, economic conditions, and consumer preferences can impact the company's financial performance.

Despite these challenges, Fifth Third Bancorp has identified several market growth opportunities. The bank invests in technology and digital channels to enhance customer experience and improve efficiency. It has also been expanding its presence in key markets, such as Florida and Georgia, where it sees strong growth potential. Fifth Third Bancorp has also been focusing on growing its commercial banking business, particularly in sectors such as healthcare, real estate, and technology. The acquisition of H2C is expected to further strengthen the company's capabilities in these areas.

FITB Stock Price History

FITB Stock News Headlines

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Company Calendar

Ex-Dividend for 4/15 Dividend
3/27/2024
Dividend Payable
4/15/2024
Last Earnings
4/19/2024
Ex-Dividend for 7/15 Dividend
6/28/2024
Today
7/09/2024
Dividend Payable
7/15/2024
Next Earnings (Confirmed)
7/19/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
Regional Banks
Current Symbol
NASDAQ:FITB
CUSIP
31677310
Employees
18,724
Year Founded
1858

Price Target and Rating

Average Stock Price Target
$38.15
High Stock Price Target
$43.00
Low Stock Price Target
$31.00
Potential Upside/Downside
+5.3%
Consensus Rating
Hold
Rating Score (0-4)
2.47
Research Coverage
17 Analysts

Profitability

Net Income
$2.35 billion
Pretax Margin
22.43%

Debt

Sales & Book Value

Annual Sales
$12.64 billion
Cash Flow
$4.49 per share
Book Value
$25.05 per share

Miscellaneous

Free Float
680,625,000
Market Cap
$24.78 billion
Optionable
Optionable
Beta
1.24

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Should I Buy Fifth Third Bancorp Stock? FITB Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fifth Third Bancorp:

  • Fifth Third Bancorp's stock price has been showing consistent growth, reaching $36.49 on the latest trading day, indicating positive momentum.
  • The company has a strong market capitalization of $24.96 billion, reflecting its stability and size in the financial sector.
  • Fifth Third Bancorp reported earnings per share of $0.76 for the last quarter, surpassing analyst estimates by $0.05, showcasing strong financial performance.
  • The company has a healthy dividend yield of 3.84%, providing investors with a steady income stream.
  • With a return on equity of 16.11%, Fifth Third Bancorp demonstrates efficient use of shareholder equity to generate profits.

Cons

Investors should be bearish about investing in Fifth Third Bancorp for these reasons:

  • The P/E ratio of 11.58 may indicate that the stock is currently overvalued compared to its earnings, potentially limiting short-term gains.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, July 5, 2024. Please send any questions or comments about these Fifth Third Bancorp pros and cons to contact@marketbeat.com.

FITB Stock Analysis - Frequently Asked Questions

How have FITB shares performed this year?

Fifth Third Bancorp's stock was trading at $34.49 on January 1st, 2024. Since then, FITB shares have increased by 5.0% and is now trading at $36.23.
View the best growth stocks for 2024 here
.

How were Fifth Third Bancorp's earnings last quarter?

Fifth Third Bancorp (NASDAQ:FITB) issued its quarterly earnings results on Friday, April, 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The financial services provider had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a trailing twelve-month return on equity of 16.11% and a net margin of 17.70%.
Read the conference call transcript
.

What is Greg D. Carmichael's approval rating as Fifth Third Bancorp's CEO?

820 employees have rated Fifth Third Bancorp Chief Executive Officer Greg D. Carmichael on Glassdoor.com. Greg D. Carmichael has an approval rating of 82% among the company's employees. 67.0% of employees surveyed would recommend working at Fifth Third Bancorp to a friend.

Does Fifth Third Bancorp have any subsidiaries?

Fifth Third Bancorp subsidiaries include Provide, Franklin Street Partners, MB Financial, Epic Insurance Solutions, R.G. McGraw Insurance Agency, Retirement Corporation of America, South Florida Bank Holding Corporation, and others.

Who are Fifth Third Bancorp's major shareholders?

Fifth Third Bancorp's top institutional shareholders include Boston Common Asset Management LLC (0.04%), DNB Asset Management AS (0.02%), Massmutual Trust Co. FSB ADV (0.01%) and Trust Co. of Toledo NA OH (0.01%). Insiders that own company stock include Greg D Carmichael, C Bryan Daniels, James C Leonard, Timothy Spence, Jude Schramm, Gary R Heminger, Robert P Shaffer, Howard Hammond, Kala Gibson, Mitchell Feiger, Thomas H Harvey and Kristine R Garrett.
View institutional ownership trends
.

How do I buy shares of Fifth Third Bancorp?

Shares of FITB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Fifth Third Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Fifth Third Bancorp investors own include Anworth Mortgage Asset (ANH), Air Transport Services Group (ATSG), Walgreens Boots Alliance (WBA), Wolverine World Wide (WWW), Carnival Co. & (CCL), General Electric (GE) and Wendy's (WEN).

This page (NASDAQ:FITB) was last updated on 7/9/2024 by MarketBeat.com Staff

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