Fifth Third Bancorp (FITB) Posts Quarterly Earnings, Beats Expectations By $0.06 EPS
Fifth Third Bancorp (NASDAQ:FITB) announced its earnings results on Thursday. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.06, AmericanBankingNews.com reports. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.54 billion.
FITB has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note on Tuesday, July 8th. They now have a $24.00 price target on the stock, down previously from $25.00. On a related note, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Fifth Third Bancorp in a research note on Thursday, June 19th. They now have a $22.50 price target on the stock, down previously from $23.00. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $22.00 to $24.00 in a research note on Monday, June 9th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.90.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 21.55 on Thursday. Fifth Third Bancorp has a 1-year low of $17.49 and a 1-year high of $23.90. The stock has a 50-day moving average of $21. and a 200-day moving average of $21.46. The company has a market cap of $18.329 billion and a price-to-earnings ratio of 11.32.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, June 26th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.12.
Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company.
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