Brokers Set Expectations for Fifth Third Bancorp’s Q3 2020 Earnings (NASDAQ:FITB)
Fifth Third Bancorp (NASDAQ:FITB) – Equities researchers at Piper Sandler lifted their Q3 2020 earnings per share (EPS) estimates for shares of Fifth Third Bancorp in a report issued on Monday, September 14th. Piper Sandler analyst R. Siefers now expects that the financial services provider will earn $0.50 per share for the quarter, up from their prior forecast of $0.47. Piper Sandler currently has a “Overweight” rating and a $25.00 price objective on the stock. Piper Sandler also issued estimates for Fifth Third Bancorp’s Q4 2020 earnings at $0.57 EPS.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.10. Fifth Third Bancorp had a net margin of 16.55% and a return on equity of 7.37%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $0.71 earnings per share. Fifth Third Bancorp’s quarterly revenue was down 3.0% compared to the same quarter last year.
FITB stock opened at $21.87 on Wednesday. Fifth Third Bancorp has a 52 week low of $11.10 and a 52 week high of $31.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $20.60 and a two-hundred day simple moving average of $19.05. The firm has a market capitalization of $15.58 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.85 and a beta of 1.70.
Large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC purchased a new stake in Fifth Third Bancorp during the 1st quarter worth approximately $25,000. Rosenberg Matthew Hamilton acquired a new stake in Fifth Third Bancorp during the 2nd quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Fifth Third Bancorp during the 2nd quarter valued at approximately $29,000. NuWave Investment Management LLC acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $31,000. Finally, FIL Ltd acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at $33,000. 78.51% of the stock is currently owned by institutional investors.
Fifth Third Bancorp Company Profile
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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