Wall Street analysts expect that Fifth Third Bancorp (NASDAQ:FITB) will report earnings of $0.49 per share for the current fiscal quarter, Zacks reports. Six analysts have provided 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 of $0.48 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The firm is expected to announce its next earnings report before the market opens 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 year, with EPS estimates ranging from $1.82 to $2.75. For the next financial year, analysts forecast that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $1.89 to $2.14. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company posted $0.65 earnings per share.

A number of brokerages have issued reports on FITB. Macquarie cut shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $28.47 to $26.00 in a report on Friday, November 17th. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Nomura raised their target price on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Bank of America raised their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada raised their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.23.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares in the company, valued at $4,461,092.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Horan Capital Advisors LLC. acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $102,000. Valeo Financial Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $119,000. Sun Life Financial INC increased its stake in shares of Fifth Third Bancorp by 55,050.0% during the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 5,505 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $202,000. Finally, Regentatlantic Capital LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

Shares of Fifth Third Bancorp (FITB) traded down $0.58 during midday trading on Wednesday, reaching $30.78. 6,429,100 shares of the company’s stock were exchanged, compared to its average volume of 5,744,409. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83. The company has a market capitalization of $22,127.03, a PE ratio of 17.42, a P/E/G ratio of 2.61 and a beta of 1.35.

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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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