Analysts Anticipate Fifth Third Bancorp (FITB) Will Announce Quarterly Sales of $1.55 Billion

Equities research analysts predict that Fifth Third Bancorp (NASDAQ:FITB) will announce sales of $1.55 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Fifth Third Bancorp’s earnings. The highest sales estimate is $1.57 billion and the lowest is $1.53 billion. Fifth Third Bancorp reported sales of $1.46 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Fifth Third Bancorp will report full-year sales of $1.55 billion for the current financial year, with estimates ranging from $6.37 billion to $6.45 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.66 billion per share, with estimates ranging from $6.59 billion to $6.72 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.58 billion. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. During the same period in the prior year, the business posted $0.49 earnings per share.

A number of equities analysts have weighed in on FITB shares. Instinet reiterated a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 30th. Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price target for the company. in a research report on Monday, October 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $29.00 price target on shares of Fifth Third Bancorp in a research report on Thursday, October 5th. UBS Group reiterated a “sell” rating and issued a $26.00 price target (up from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Finally, Citigroup reiterated a “neutral” rating and issued a $31.00 price target (up from $28.00) on shares of Fifth Third Bancorp in a research report on Monday, October 9th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $30.47.

Fifth Third Bancorp (NASDAQ:FITB) opened at $33.35 on Friday. The firm has a market cap of $23,900.00, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.35. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $33.51. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 22.46%.

Institutional investors have recently added to or reduced their stakes in the stock. Horan Capital Advisors LLC. purchased a new stake in Fifth Third Bancorp during the third quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new stake in Fifth Third Bancorp during the third quarter valued at $119,000. Harvest Fund Management Co. Ltd purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at $148,000. Sun Life Financial INC raised its stake in 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 purchasing an additional 5,505 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Fifth Third Bancorp by 268.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,706 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Analysts Anticipate Fifth Third Bancorp (FITB) Will Announce Quarterly Sales of $1.55 Billion” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/28/analysts-anticipate-fifth-third-bancorp-fitb-will-announce-quarterly-sales-of-1-55-billion.html.

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.

Get a free copy of the Zacks research report on Fifth Third Bancorp (FITB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply