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.

Several other equities analysts have also commented on FITB. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $19.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $16.00 to $20.00 in a report on Friday, June 5th. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Royal Bank of Canada lowered their target price on shares of Fifth Third Bancorp from $28.00 to $24.00 in a report on Wednesday, July 1st. Finally, BidaskClub upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.53.

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.

Further Reading: Why Invest in High-Yield Dividend Stocks?

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.