Fifth Third Stock Hits New 52-Week High (FITB)

NEW YORK ( TheStreet) -- Fifth Third Bancorp (Nasdaq: FITB) hit a new 52-week high Thursday as it is currently trading at $14.43, above its previous 52-week high of $14.39 with 3.2 million shares traded as of 10:05 a.m. ET. Average volume has been 13.6 million shares over the past 30 days.

Fifth Third has a market cap of $12.35 billion and is part of the financial sector and banking industry. Shares are up 12.3% year to date as of the close of trading on Wednesday.

Fifth Third Bancorp operates as a diversified financial services holding company in the United States. The company's Commercial Banking segment offers banking, cash management, and financial services to large and middle-market businesses, and government and professional customers. The company has a P/E ratio of 12, above the average banking industry P/E ratio of 11.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Fifth Third as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, growth in earnings per share, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Fifth Third Ratings Report.

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