Equities research analysts expect Fifth Third Bancorp (NASDAQ:FITB) to post sales of $1.68 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Fifth Third Bancorp’s earnings, with estimates ranging from $1.61 billion to $1.88 billion. Fifth Third Bancorp reported sales of $1.91 billion in the same quarter last year, which indicates a negative year over year growth rate of 12%. The business is expected to announce its next earnings results on Tuesday, April 23rd.
On average, analysts expect that Fifth Third Bancorp will report full year sales of $7.35 billion for the current year, with estimates ranging from $6.63 billion to $7.70 billion. For the next year, analysts forecast that the business will post sales of $7.68 billion, with estimates ranging from $6.83 billion to $8.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Fifth Third Bancorp.
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Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, January 22nd. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. During the same quarter in the previous year, the firm posted $0.48 earnings per share.
FITB has been the topic of several research reports. BidaskClub upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Bank of America set a $29.00 target price on shares of Fifth Third Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 23rd. Morgan Stanley reduced their target price on shares of Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 11th. Raymond James set a $30.00 target price on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.13.
Several large investors have recently made changes to their positions in the stock. Ffcm LLC grew its stake in shares of Fifth Third Bancorp by 76.3% in the fourth quarter. Ffcm LLC now owns 49,884 shares of the financial services provider’s stock valued at $1,174,000 after buying an additional 21,583 shares in the last quarter. Olstein Capital Management L.P. grew its stake in shares of Fifth Third Bancorp by 10.3% in the fourth quarter. Olstein Capital Management L.P. now owns 203,000 shares of the financial services provider’s stock valued at $4,777,000 after buying an additional 19,000 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $5,130,000. FSI Group LLC grew its stake in shares of Fifth Third Bancorp by 1,688.0% in the fourth quarter. FSI Group LLC now owns 223,785 shares of the financial services provider’s stock valued at $5,266,000 after buying an additional 211,269 shares in the last quarter. Finally, Hourglass Capital LLC grew its stake in shares of Fifth Third Bancorp by 299.0% in the fourth quarter. Hourglass Capital LLC now owns 220,450 shares of the financial services provider’s stock valued at $5,187,000 after buying an additional 165,200 shares in the last quarter. Institutional investors and hedge funds own 82.61% of the company’s stock.
Shares of FITB stock traded down $0.35 on Thursday, reaching $26.43. 5,083,147 shares of the stock were exchanged, compared to its average volume of 5,220,949. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The company has a market cap of $17.33 billion, a P/E ratio of 10.41, a PEG ratio of 1.34 and a beta of 1.32. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $34.67.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 34.65%.
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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