Fifth Third Bancorp (NASDAQ:FITB – Get Rating) – Analysts at DA Davidson issued their Q1 2023 earnings estimates for shares of Fifth Third Bancorp in a research note issued on Monday, January 23rd. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings of $0.83 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $36.00 price target on the stock. The consensus estimate for Fifth Third Bancorp’s current full-year earnings is $3.78 per share. DA Davidson also issued estimates for Fifth Third Bancorp’s FY2023 earnings at $3.83 EPS and FY2024 earnings at $3.99 EPS.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 26.15% and a return on equity of 15.48%. During the same quarter in the previous year, the firm earned $0.90 EPS.
Fifth Third Bancorp Stock Down 1.0 %
NASDAQ:FITB opened at $35.15 on Wednesday. The company has a market cap of $24.13 billion, a PE ratio of 10.46, a P/E/G ratio of 1.14 and a beta of 1.21. Fifth Third Bancorp has a twelve month low of $30.92 and a twelve month high of $50.13. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $33.91 and its two-hundred day moving average is $34.29.
Institutional Investors Weigh In On Fifth Third Bancorp
Hedge funds have recently modified their holdings of the business. Wagner Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $27,000. CI Investments Inc. raised its position in shares of Fifth Third Bancorp by 1,002.4% in the third quarter. CI Investments Inc. now owns 915 shares of the financial services provider’s stock valued at $29,000 after buying an additional 832 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings in shares of Fifth Third Bancorp by 324.1% in the third quarter. Hexagon Capital Partners LLC now owns 933 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 713 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 226.0% in the third quarter. EverSource Wealth Advisors LLC now owns 939 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 651 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 10,209 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $35.76, for a total transaction of $365,073.84. Following the completion of the transaction, the executive vice president now directly owns 69,534 shares in the company, valued at $2,486,535.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is currently owned by company insiders.
Fifth Third Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, December 29th. Fifth Third Bancorp’s dividend payout ratio is presently 39.29%.
Fifth Third Bancorp Company Profile
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.
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