Extremely important positive changes in investment behavior have recently occurred for Fifth Third Bancorp (NASDAQ: FITB): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.
Fifth Third Bancorp (NASDAQ: FITB). Notable positive changes in fundamentals have recently occurred: significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
FITB’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Fifth Third Bancorp has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Fifth Third Bancorp has a neutral Power Rating of 60 but a good Appreciation Score of 75, triggering the Positive Value Trend Rating.
Recent Price Action
Fifth Third Bancorp (NASDAQ: FITB) stock closed at $30.66 on 12/4/23 after a slight gain of 0.3%. This advance was accompanied by normal trading volume. The stock has been strong relative to the market over the last nine months and has risen 12.5% during the last week.
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