Fifth Third Bancorp (NASDAQ:FITB) Expected to Post Earnings of $0.74 Per Share

Wall Street analysts expect Fifth Third Bancorp (NASDAQ:FITB) to report earnings per share of $0.74 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Fifth Third Bancorp’s earnings. The lowest EPS estimate is $0.70 and the highest is $0.82. Fifth Third Bancorp reported earnings per share of $0.69 in the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The firm is expected to report its next earnings report on Tuesday, January 28th.

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According to Zacks, analysts expect that Fifth Third Bancorp will report full year earnings of $2.81 per share for the current financial year, with EPS estimates ranging from $2.78 to $2.85. For the next financial year, analysts anticipate that the company will report earnings of $2.95 per share, with EPS estimates ranging from $2.80 to $3.01. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Fifth Third Bancorp had a net margin of 24.36% and a return on equity of 11.40%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $0.64 earnings per share.

FITB has been the subject of several research analyst reports. Raymond James lifted their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. BidaskClub raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America lifted their target price on shares of Fifth Third Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Nomura set a $29.00 target price on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $31.43.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $27.52, for a total value of $137,600.00. Following the completion of the sale, the executive vice president now owns 152,672 shares of the company’s stock, valued at approximately $4,201,533.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Philip Mchugh sold 36,382 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total transaction of $1,111,833.92. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mason Street Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 0.4% during the 3rd quarter. Mason Street Advisors LLC now owns 104,071 shares of the financial services provider’s stock worth $2,849,000 after acquiring an additional 366 shares during the period. Lido Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 0.9% during the 2nd quarter. Lido Advisors LLC now owns 41,677 shares of the financial services provider’s stock worth $1,172,000 after acquiring an additional 392 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Fifth Third Bancorp by 5.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,335 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 401 shares during the period. Commerce Bank lifted its holdings in shares of Fifth Third Bancorp by 2.3% during the 2nd quarter. Commerce Bank now owns 18,210 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 414 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Fifth Third Bancorp by 0.7% during the 2nd quarter. M&T Bank Corp now owns 62,087 shares of the financial services provider’s stock worth $1,732,000 after acquiring an additional 442 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FITB traded up $0.05 during midday trading on Tuesday, reaching $30.56. 3,597,500 shares of the company were exchanged, compared to its average volume of 6,476,386. The firm has a market cap of $22.17 billion, a PE ratio of 12.03, a P/E/G ratio of 1.50 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $27.58. Fifth Third Bancorp has a fifty-two week low of $22.12 and a fifty-two week high of $30.89.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 37.80%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Earnings History and Estimates for Fifth Third Bancorp (NASDAQ:FITB)

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