Zacks: Analysts Expect Fifth Third Bancorp (NASDAQ:FITB) Will Announce Earnings of $0.90 Per Share

Equities analysts expect that Fifth Third Bancorp (NASDAQ:FITB) will report $0.90 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Fifth Third Bancorp’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.82. Fifth Third Bancorp posted earnings per share of $0.85 during the same quarter last year, which would suggest a positive year over year growth rate of 5.9%. The business is scheduled to report its next earnings results on Thursday, October 28th.

On average, analysts expect that Fifth Third Bancorp will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.74. For the next year, analysts anticipate that the company will report earnings of $3.32 per share, with EPS estimates ranging from $3.18 to $3.53. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.13. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Fifth Third Bancorp had a return on equity of 13.03% and a net margin of 31.30%. During the same quarter last year, the business posted $0.23 earnings per share.

Several research firms have recently weighed in on FITB. Citigroup began coverage on shares of Fifth Third Bancorp in a research note on Friday, July 16th. They set a “hold” rating and a $36.73 price target for the company. Robert W. Baird lifted their price target on shares of Fifth Third Bancorp from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, June 3rd. Stephens reaffirmed an “overweight” rating and issued a $35.84 price target (down from $46.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 27th. Odeon Capital Group lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Finally, Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $38.96.

NASDAQ FITB traded up $0.68 during trading on Friday, hitting $38.91. The stock had a trading volume of 80,207 shares, compared to its average volume of 5,434,607. The stock has a 50 day simple moving average of $37.87 and a 200 day simple moving average of $38.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.89. Fifth Third Bancorp has a one year low of $19.32 and a one year high of $43.06. The stock has a market capitalization of $26.88 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.28 and a beta of 1.55.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 29th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.08%. Fifth Third Bancorp’s dividend payout ratio is 50.00%.

In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 6,372 shares of the stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $38.41, for a total transaction of $244,748.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Paradigm Financial Partners LLC raised its position in Fifth Third Bancorp by 0.5% during the first quarter. Paradigm Financial Partners LLC now owns 51,505 shares of the financial services provider’s stock worth $1,929,000 after acquiring an additional 245 shares during the last quarter. Berman Capital Advisors LLC raised its stake in shares of Fifth Third Bancorp by 6.8% during the first quarter. Berman Capital Advisors LLC now owns 4,045 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 258 shares during the period. Penserra Capital Management LLC grew its stake in Fifth Third Bancorp by 18.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,786 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 280 shares in the last quarter. MAI Capital Management increased its stake in Fifth Third Bancorp by 4.3% during the second quarter. MAI Capital Management now owns 6,818 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 283 shares during the last quarter. Finally, Morris Retirement Advisors LLC increased its stake in Fifth Third Bancorp by 2.6% during the second quarter. Morris Retirement Advisors LLC now owns 11,042 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 285 shares during the last quarter. 80.25% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.

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

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