Equities research analysts expect Fifth Third Bancorp (NASDAQ:FITB) to report $1.58 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Fifth Third Bancorp’s earnings. The lowest sales estimate is $1.54 billion and the highest is $1.59 billion. Fifth Third Bancorp posted sales of $1.53 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The business is expected to announce its next earnings results before the market opens on Tuesday, January 23rd.
According to Zacks, analysts expect that Fifth Third Bancorp will report full year sales of $1.58 billion for the current year, with estimates ranging from $7.07 billion to $7.11 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.40 billion per share, with estimates ranging from $6.34 billion to $6.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fifth Third Bancorp.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the firm earned $0.65 earnings per share.
FITB has been the topic of several research reports. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. UBS Group restated a “sell” rating and set a $26.00 price target (up from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Bank of America lifted their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies restated a “hold” rating and set a $27.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Finally, Morgan Stanley lifted their price target on Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the stock. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $29.33.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Horan Capital Advisors LLC. purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $102,000. Valeo Financial Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $119,000. Sun Life Financial INC raised its stake in shares of Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $202,000. Finally, Regentatlantic Capital LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $205,000. 83.84% of the stock is currently owned by institutional investors and hedge funds.
Fifth Third Bancorp (FITB) traded up $0.49 during midday trading on Thursday, hitting $32.35. The company had a trading volume of 4,346,404 shares, compared to its average volume of 5,199,168. 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 one year low of $23.20 and a one year high of $32.36. The company has a market capitalization of $22,825.54, a price-to-earnings ratio of 12.12, a PEG ratio of 2.21 and a beta of 1.35.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 23.97%.
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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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