Wall Street analysts expect that Fifth Third Bancorp (NASDAQ:FITB) will report earnings of $0.67 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Fifth Third Bancorp’s earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.65. Fifth Third Bancorp reported earnings of $0.52 per share in the same quarter last year, which suggests a positive year over year growth rate of 28.8%. The company is expected to announce its next quarterly earnings report on Tuesday, January 22nd.
On average, analysts expect that Fifth Third Bancorp will report full year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.45 to $2.53. For the next fiscal year, analysts expect that the business will report earnings of $2.72 per share, with EPS estimates ranging from $2.60 to $2.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Fifth Third Bancorp.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share.
Several research firms have recently issued reports on FITB. Wedbush set a $34.00 price objective on shares of Fifth Third Bancorp and gave the company a “buy” rating in a report on Thursday, September 20th. ValuEngine downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. BidaskClub downgraded shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Monday, July 16th. Finally, Morgan Stanley dropped their target price on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $32.31.
Hedge funds and other institutional investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $103,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Fifth Third Bancorp by 8,368.1% in the 2nd 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. purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $131,000. First Mercantile Trust Co. purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $149,000. Finally, Regentatlantic Capital LLC purchased a new stake in Fifth Third Bancorp in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 83.77% of the company’s stock.
FITB opened at $27.98 on Friday. Fifth Third Bancorp has a 52-week low of $24.10 and a 52-week high of $34.67. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $18.28 billion, a PE ratio of 10.44, a P/E/G ratio of 1.53 and a beta of 1.18.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.57%. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.
About Fifth Third Bancorp
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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