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Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

Fifth Third Bancorp (FITB)

With assets of $212.96 billion as of Sep 30, 2023, Cincinnati-based Fifth Third Bancorp has 1,073 full-service banking centers in 11 states throughout the Midwestern and Southeastern regions of the United States. In 2019, Fifth Third received the Office of the Comptroller of the Currency's approval to convert from an Ohio state-chartered bank to a national bank.

FITB boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Fifth Third Bancorp has seen some interesting price action recently; the stock is down 5.3% over the past one week and up 3.3% over the past four weeks. And in the last one-year period, FITB has lost 32%. As for the stock's trading volume, 5,807,963 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For FITB, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.11 to $3.40 per share for 2023. FITB boasts an average earnings surprise of 5.2%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding FITB to their portfolios.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Fifth Third Bancorp (FITB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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