Analysts Set Expectations for Fifth Third Bancorp’s FY2020 Earnings (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) – Equities research analysts at Piper Sandler increased their FY2020 earnings per share estimates for shares of Fifth Third Bancorp in a report issued on Wednesday, January 22nd. Piper Sandler analyst R. Siefers now expects that the financial services provider will earn $2.99 per share for the year, up from their previous estimate of $2.84. Piper Sandler also issued estimates for Fifth Third Bancorp’s FY2021 earnings at $3.05 EPS.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Fifth Third Bancorp had a return on equity of 10.96% and a net margin of 25.65%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $0.69 earnings per share.

A number of other analysts also recently commented on the stock. Cfra upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Raymond James boosted their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price objective on shares of Fifth Third Bancorp from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays upgraded shares of Fifth Third Bancorp from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective for the company in a research note on Monday, January 6th. Finally, Citigroup reduced their price objective on shares of Fifth Third Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $31.57.

Shares of FITB stock traded down $0.10 during midday trading on Friday, reaching $29.26. 187,405 shares of the company were exchanged, compared to its average volume of 3,928,524. Fifth Third Bancorp has a 12 month low of $24.17 and a 12 month high of $31.64. The company has a market cap of $20.82 billion, a P/E ratio of 8.71, a PEG ratio of 1.39 and a beta of 1.40. The company’s 50 day moving average price is $30.36 and its two-hundred day moving average price is $28.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.87 and a current ratio of 0.88.

A number of large investors have recently modified their holdings of FITB. Covington Capital Management bought a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $31,000. FinTrust Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth about $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Fifth Third Bancorp by 4,403.4% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,306 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,277 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its holdings in shares of Fifth Third Bancorp by 179.1% during the second quarter. CSat Investment Advisory L.P. now owns 1,747 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,121 shares during the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Frank R. Forrest sold 7,500 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.53, for a total value of $228,975.00. Following the completion of the transaction, the executive vice president now owns 55,474 shares in the company, valued at approximately $1,693,621.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Philip Mchugh sold 36,382 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $30.56, for a total transaction of $1,111,833.92. 0.40% of the stock is owned by corporate insiders.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.28%. The ex-dividend date was Monday, December 30th. Fifth Third Bancorp’s payout ratio is currently 34.66%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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

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