Equities analysts forecast that Fifth Third Bancorp (NASDAQ:FITB) will report sales of $1.66 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Fifth Third Bancorp’s earnings, with the lowest sales estimate coming in at $1.61 billion and the highest estimate coming in at $1.88 billion. Fifth Third Bancorp posted sales of $1.91 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 13.1%. The firm is expected to issue its next earnings results before the market opens on Tuesday, April 23rd.

On average, analysts expect that Fifth Third Bancorp will report full year sales of $7.44 billion for the current year, with estimates ranging from $7.28 billion to $7.70 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.80 billion, with estimates ranging from $7.52 billion to $8.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $0.48 EPS.

A number of analysts have recently commented on FITB shares. Jefferies Financial Group raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Citigroup raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $37.00 to $29.00 in a research report on Wednesday, January 9th. ValuEngine cut Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, March 25th. Sandler O’Neill raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.31.

Shares of FITB traded down $0.21 during mid-day trading on Tuesday, reaching $27.50. The company had a trading volume of 7,824,873 shares, compared to its average volume of 8,966,174. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.97. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67. The stock has a market cap of $17.84 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.27 and a beta of 1.32.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.20%. Fifth Third Bancorp’s payout ratio is currently 34.65%.

In related news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $26.37, for a total value of $685,620.00. Following the completion of the transaction, the executive vice president now directly owns 62,974 shares in the company, valued at approximately $1,660,624.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Teresa J. Tanner sold 55,600 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Unison Advisors LLC raised its stake in Fifth Third Bancorp by 0.7% during the 1st quarter. Unison Advisors LLC now owns 56,420 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 403 shares during the last quarter. JOYN Advisors Inc. raised its stake in Fifth Third Bancorp by 38.6% during the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after buying an additional 480 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Fifth Third Bancorp by 82.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after buying an additional 487 shares during the last quarter. UMB Bank N A MO raised its stake in Fifth Third Bancorp by 3.0% during the 4th quarter. UMB Bank N A MO now owns 17,881 shares of the financial services provider’s stock valued at $421,000 after buying an additional 522 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Fifth Third Bancorp by 0.9% during the 4th quarter. M&T Bank Corp now owns 64,313 shares of the financial services provider’s stock valued at $1,513,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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

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