Analysts Anticipate Fifth Third Bancorp (NASDAQ:FITB) to Post $0.26 EPS

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Equities research analysts expect Fifth Third Bancorp (NASDAQ:FITB) to announce earnings of $0.26 per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Fifth Third Bancorp’s earnings. The lowest EPS estimate is ($0.42) and the highest is $0.57. Fifth Third Bancorp reported earnings per share of $0.71 during the same quarter last year, which indicates a negative year-over-year growth rate of 63.4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 23rd.

According to Zacks, analysts expect that Fifth Third Bancorp will report full year earnings of $1.10 per share for the current year, with EPS estimates ranging from ($0.85) to $1.83. For the next financial year, analysts anticipate that the business will report earnings of $2.12 per share, with EPS estimates ranging from $1.60 to $3.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.10). Fifth Third Bancorp had a return on equity of 9.05% and a net margin of 18.85%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company posted $0.63 EPS.

A number of analysts have commented on FITB shares. Wedbush increased their price target on shares of Fifth Third Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Deutsche Bank cut their price target on shares of Fifth Third Bancorp from $34.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. DA Davidson increased their price target on shares of Fifth Third Bancorp from $19.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. UBS Group increased their price target on shares of Fifth Third Bancorp from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Co increased their price target on shares of Fifth Third Bancorp from $16.00 to $20.00 in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $24.37.

A number of hedge funds have recently added to or reduced their stakes in FITB. FMR LLC grew its holdings in shares of Fifth Third Bancorp by 4.2% during the 1st quarter. FMR LLC now owns 815,594 shares of the financial services provider’s stock valued at $20,569,000 after purchasing an additional 32,680 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Fifth Third Bancorp by 10.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 563,358 shares of the financial services provider’s stock worth $14,209,000 after acquiring an additional 55,145 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $214,000. Advisor Group Inc. grew its stake in shares of Fifth Third Bancorp by 17.9% in the 4th quarter. Advisor Group Inc. now owns 38,033 shares of the financial services provider’s stock worth $1,169,000 after acquiring an additional 5,762 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Fifth Third Bancorp by 43.0% in the 4th quarter. Renaissance Technologies LLC now owns 616,139 shares of the financial services provider’s stock worth $18,940,000 after acquiring an additional 185,200 shares in the last quarter. 78.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FITB opened at $18.70 on Tuesday. Fifth Third Bancorp has a 12 month low of $11.10 and a 12 month high of $31.64. The firm has a fifty day simple moving average of $20.21 and a 200 day simple moving average of $22.05. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.88 and a beta of 1.72. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend is Monday, June 29th. Fifth Third Bancorp’s dividend payout ratio is currently 38.99%.

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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