Equities analysts forecast that Fifth Third Bancorp (NASDAQ:FITB) will report $1.63 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Fifth Third Bancorp’s earnings, with the highest sales estimate coming in at $1.64 billion and the lowest estimate coming in at $1.59 billion. Fifth Third Bancorp posted sales of $1.54 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The company is scheduled to issue its next earnings results before the market opens on Tuesday, October 23rd.

According to Zacks, analysts expect that Fifth Third Bancorp will report full-year sales of $6.85 billion for the current year, with estimates ranging from $6.47 billion to $6.99 billion. For the next fiscal year, analysts anticipate that the company will report sales of $7.41 billion, with estimates ranging from $6.64 billion to $7.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same quarter in the previous year, the business earned $0.45 earnings per share.

FITB has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating for the company in a research report on Monday, July 23rd. Vining Sparks reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Thursday, July 19th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Monday, July 16th. Wedbush set a $34.00 target price on Fifth Third Bancorp and gave the company a “buy” rating in a report on Thursday, September 20th. Finally, Morgan Stanley reduced their target price on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $32.69.

Shares of NASDAQ:FITB traded down $0.08 during midday trading on Friday, reaching $26.33. The company’s stock had a trading volume of 6,775,224 shares, compared to its average volume of 5,603,353. The company has a market cap of $17.64 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 1 year low of $26.11 and a 1 year high of $34.67.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, September 27th. Fifth Third Bancorp’s payout ratio is currently 26.87%.

A number of institutional investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp acquired a new position in shares of Fifth Third Bancorp during the second quarter worth about $103,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Fifth Third Bancorp by 8,368.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,933 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Fifth Third Bancorp during the second quarter worth about $131,000. First Mercantile Trust Co. acquired a new position in shares of Fifth Third Bancorp during the second quarter worth about $149,000. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of Fifth Third Bancorp during the first quarter worth about $181,000. Hedge funds and other institutional investors own 84.15% 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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