Fifth Third Bancorp (NASDAQ:FITB) – Research analysts at FIG Partners lifted their FY2017 earnings estimates for shares of Fifth Third Bancorp in a note issued to investors on Wednesday. FIG Partners analyst C. Marinac now forecasts that the financial services provider will post earnings of $1.80 per share for the year, up from their prior estimate of $1.78. FIG Partners also issued estimates for Fifth Third Bancorp’s Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.60 EPS and FY2018 earnings at $2.15 EPS.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company began coverage on shares of Fifth Third Bancorp in a report on Wednesday. They issued a “market perform” rating and a $27.00 target price for the company. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets reiterated a “market perform” rating and issued a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.54.

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Shares of Fifth Third Bancorp (NASDAQ FITB) opened at 27.14 on Thursday. The stock has a market capitalization of $20.05 billion, a P/E ratio of 13.76 and a beta of 1.37. The company’s 50-day moving average is $26.20 and its 200 day moving average is $25.73. Fifth Third Bancorp has a 12 month low of $18.94 and a 12 month high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm posted $0.40 EPS. Fifth Third Bancorp’s revenue for the quarter was up .1% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 2.9% in the first quarter. Vanguard Group Inc. now owns 57,242,180 shares of the financial services provider’s stock valued at $1,453,952,000 after buying an additional 1,608,632 shares during the last quarter. BlackRock Inc. increased its position in shares of Fifth Third Bancorp by 3,239.3% in the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock valued at $1,243,309,000 after buying an additional 47,483,352 shares during the last quarter. Sanders Capital LLC increased its position in shares of Fifth Third Bancorp by 1.4% in the first quarter. Sanders Capital LLC now owns 13,730,238 shares of the financial services provider’s stock valued at $354,605,000 after buying an additional 189,300 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Fifth Third Bancorp by 87.1% in the first quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock valued at $236,360,000 after buying an additional 4,332,945 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fifth Third Bancorp by 8.0% in the first quarter. Geode Capital Management LLC now owns 8,455,254 shares of the financial services provider’s stock valued at $214,494,000 after buying an additional 627,613 shares during the last quarter. 80.50% of the stock is owned by institutional investors.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Wednesday, June 28th. Fifth Third Bancorp’s payout ratio is presently 28.43%.

Fifth Third Bancorp declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.16 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 67% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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

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