Zacks: Brokerages Anticipate Fifth Third Bancorp (FITB) to Announce $0.48 Earnings Per Share

Wall Street analysts forecast that Fifth Third Bancorp (NASDAQ:FITB) will report earnings per share (EPS) of $0.48 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Fifth Third Bancorp’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.50. Fifth Third Bancorp reported earnings per share of $0.38 in the same quarter last year, which suggests a positive year over year growth rate of 26.3%. The business is expected to issue its next earnings results on Tuesday, April 24th.

On average, analysts expect that Fifth Third Bancorp will report full year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.04 to $2.40. For the next financial year, analysts anticipate that the business will post earnings of $2.56 per share, with EPS estimates ranging from $2.37 to $2.65. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Fifth Third Bancorp.

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

FITB has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Macquarie downgraded shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $28.47 to $26.00 in a research report on Friday, November 17th. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Finally, Barclays boosted their price target on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.70.

In other news, EVP Frank R. Forrest sold 4,836 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $154,268.40. Following the transaction, the executive vice president now directly owns 112,474 shares of the company’s stock, valued at $3,587,920.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark D. Hazel sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $32.81, for a total transaction of $246,075.00. Following the completion of the transaction, the senior vice president now directly owns 62,254 shares in the company, valued at $2,042,553.74. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. HRT Financial LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $253,000. CT Mason grew its position in Fifth Third Bancorp by 14.0% during the fourth quarter. CT Mason now owns 246,536 shares of the financial services provider’s stock valued at $7,480,000 after purchasing an additional 30,240 shares in the last quarter. Eaton Vance Management grew its position in Fifth Third Bancorp by 1.1% during the fourth quarter. Eaton Vance Management now owns 1,575,973 shares of the financial services provider’s stock valued at $47,815,000 after purchasing an additional 16,774 shares in the last quarter. OppenheimerFunds Inc. grew its position in Fifth Third Bancorp by 21.4% during the fourth quarter. OppenheimerFunds Inc. now owns 138,745 shares of the financial services provider’s stock valued at $4,209,000 after purchasing an additional 24,434 shares in the last quarter. Finally, Suntrust Banks Inc. grew its position in Fifth Third Bancorp by 108.8% during the fourth quarter. Suntrust Banks Inc. now owns 98,819 shares of the financial services provider’s stock valued at $2,996,000 after purchasing an additional 51,494 shares in the last quarter. 84.41% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp (FITB) traded up $0.27 during mid-day trading on Monday, hitting $32.25. 5,412,706 shares of the company’s stock were exchanged, compared to its average volume of 5,624,411. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $33.91. The company has a market cap of $22,830.00, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 22.46%.

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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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