Is Fifth Third Bancorp overvalued or undervalued?

As of 17 April 2025, the valuation grade for Fifth Third Bancorp has moved from expensive to fair. The company is currently fairly valued based on its financial metrics. The P/E ratio stands at 15, while the Price to Book Value is 1.75, and the EV to EBITDA is 10.00.
In comparison to its peers, Fifth Third Bancorp's P/E ratio of 14.92 is lower than that of Fiserv, Inc., which has a P/E of 34.15, and M&T Bank Corp. at 12.00, indicating that it is competitively priced within the sector. Additionally, the PEG ratio of 6.54 suggests that the stock may not be undervalued relative to its growth expectations. Notably, over the past year, Fifth Third Bancorp has returned 11.34%, slightly outperforming the S&P 500's 10.26% return, which supports the notion of its fair valuation.