Wall Street brokerages expect Fifth Third Bank (NASDAQ:FITB) to post earnings per share (EPS) of $0.48 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Fifth Third Bank’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.50. Fifth Third Bank reported earnings per share of $0.38 in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The firm is expected to issue its next earnings report before the market opens on Tuesday, April 24th.
On average, analysts expect that Fifth Third Bank will report full-year earnings of $2.33 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.41. For the next year, analysts forecast that the company will post earnings of $2.56 per share, with EPS estimates ranging from $2.38 to $2.68. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Fifth Third Bank.
Fifth Third Bank (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.58 billion. Fifth Third Bank had a return on equity of 9.65% and a net margin of 27.08%. During the same period last year, the company earned $0.49 earnings per share.
FITB stock traded up $0.31 during midday trading on Wednesday, reaching $31.55. The stock had a trading volume of 417,507 shares, compared to its average volume of 5,152,668. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99. The firm has a market cap of $21,461.32, a price-to-earnings ratio of 16.98, a PEG ratio of 1.71 and a beta of 1.32. Fifth Third Bank has a twelve month low of $23.20 and a twelve month high of $34.57.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.03%. Fifth Third Bank’s payout ratio is currently 23.88%.
Fifth Third Bank declared that its board has initiated a stock buyback program on Tuesday, February 27th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, EVP James C. Leonard sold 35,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $33.80, for a total transaction of $1,183,000.00. Following the completion of the transaction, the executive vice president now directly owns 101,091 shares in the company, valued at approximately $3,416,875.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Aravind Immaneni sold 4,000 shares of Fifth Third Bank stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $33.60, for a total value of $134,400.00. Following the transaction, the executive vice president now owns 23,071 shares in the company, valued at approximately $775,185.60. The disclosure for this sale can be found here. Insiders have sold a total of 183,978 shares of company stock valued at $6,033,127 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in Fifth Third Bank by 16.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,996 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 6,755 shares during the period. Xact Kapitalforvaltning AB grew its position in Fifth Third Bank by 3.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 165,417 shares of the financial services provider’s stock worth $5,019,000 after acquiring an additional 5,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Fifth Third Bank by 79.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 732,251 shares of the financial services provider’s stock worth $22,216,000 after acquiring an additional 324,839 shares in the last quarter. Probabilities Fund Management LLC purchased a new position in Fifth Third Bank in the fourth quarter worth about $333,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Fifth Third Bank by 38.8% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 51,560 shares of the financial services provider’s stock worth $1,564,000 after acquiring an additional 14,400 shares in the last quarter. Institutional investors and hedge funds own 84.54% of the company’s stock.
Fifth Third Bank 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.
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