Wall Street analysts forecast that Fifth Third Bancorp (NASDAQ:FITB) will report earnings per share of $0.49 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Fifth Third Bancorp’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.45. Fifth Third Bancorp posted earnings per share of $0.48 in the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The firm is expected to report its next earnings results on Tuesday, January 23rd.

On average, analysts expect that Fifth Third Bancorp will report full year earnings of $2.57 per share for the current fiscal year, with EPS estimates ranging from $1.82 to $2.75. For the next fiscal year, analysts anticipate that the company will post earnings of $2.03 per share, with EPS estimates ranging from $1.89 to $2.14. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm posted $0.65 EPS.

A number of brokerages have recently issued reports on FITB. Macquarie downgraded shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $28.47 to $26.00 in a report on Friday. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Nomura increased their price objective on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Bank of America Corporation increased their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.23.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.02 during midday trading on Friday, hitting $28.45. 3,765,003 shares of the stock were exchanged, compared to its average volume of 5,757,261. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $20,090.00, a P/E ratio of 15.89, a PEG ratio of 2.37 and a beta of 1.34. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $29.39.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. grew its holdings in shares of Fifth Third Bancorp by 1.5% in the second quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock valued at $57,997,000 after purchasing an additional 33,660 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 847 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Fifth Third Bancorp by 4.9% in the second quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock valued at $38,232,000 after purchasing an additional 68,859 shares in the last quarter. Capital Fund Management S.A. grew its holdings in shares of Fifth Third Bancorp by 69.8% in the second quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock valued at $8,339,000 after purchasing an additional 132,047 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Fifth Third Bancorp by 58.0% in the second quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock valued at $2,196,000 after purchasing an additional 31,048 shares in the last quarter. 81.45% of the stock is owned by hedge funds and other institutional investors.

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Fifth Third Bancorp 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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Earnings History and Estimates for Fifth Third Bancorp (NASDAQ:FITB)

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