Fifth Third Bancorp (NASDAQ: FITB) has reported E.P.S. of $0.82 for its second fiscal quarter (ending June 30) versus $0.82 for the same period a year ago — flat performance. Relative to the consensus estimate of $0.83, this was a shortfall of $-0.01. For the latest four quarters through June 30, E.P.S. were $3.15 compared to $3.52 a year ago — a decline of -11%.
Recent Price Action
Fifth Third Bancorp (NASDAQ: FITB) stock closed at $40.99 on 7/19/24 after an increase of 1.9%. Moreover, unusually high trading volume at 168% of normal accompanied the advance. The stock has risen 7.1% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
FITB is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Fifth Third Bancorp has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Fifth Third Bancorp has a good Appreciation Score of 77 and a very high Power Rating of 86, resulting in the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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