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Fifth Third Bancorp (FITB) Shows Signs Of Being Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Fifth Third Bancorp (FITB) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Fifth Third Bancorp as such a stock due to the following factors:

  • FITB has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $156.8 million.
  • FITB has traded 6.6 million shares today.
  • FITB traded in a range 215.3% of the normal price range with a price range of $0.83.
  • FITB traded below its daily resistance level (quality: 36 days, meaning that the stock is crossing a resistance level set by the last 36 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on FITB:

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. The stock currently has a dividend yield of 2.1%. FITB has a PE ratio of 11.3. Currently there are 10 analysts that rate Fifth Third Bancorp a buy, 1 analyst rates it a sell, and 10 rate it a hold.

The average volume for Fifth Third Bancorp has been 8.1 million shares per day over the past 30 days. Fifth Third has a market cap of $19.1 billion and is part of the financial sector and banking industry. The stock has a beta of 1.26 and a short float of 1.8% with 2.10 days to cover. Shares are up 7.5% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Fifth Third Bancorp as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins, good cash flow from operations, notable return on equity and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:

  • Compared to its closing price of one year ago, FITB's share price has jumped by 45.02%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, FITB should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The gross profit margin for FIFTH THIRD BANCORP is currently very high, coming in at 90.86%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 23.76% significantly outperformed against the industry average.
  • Net operating cash flow has significantly increased by 529.05% to $768.00 million when compared to the same quarter last year. In addition, FIFTH THIRD BANCORP has also vastly surpassed the industry average cash flow growth rate of 409.51%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, FIFTH THIRD BANCORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • The net income growth from the same quarter one year ago has exceeded that of the Commercial Banks industry average, but is less than that of the S&P 500. The net income increased by 1.3% when compared to the same quarter one year prior, going from $398.00 million to $403.00 million.

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