FIG Partners Comments on Fifth Third Bancorp’s Q4 2018 Earnings (FITB)

Fifth Third Bancorp (NASDAQ:FITB) – Investment analysts at FIG Partners reduced their Q4 2018 EPS estimates for shares of Fifth Third Bancorp in a research report issued to clients and investors on Wednesday, November 7th. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings of $0.70 per share for the quarter, down from their prior forecast of $0.71. FIG Partners also issued estimates for Fifth Third Bancorp’s Q3 2019 earnings at $0.70 EPS, Q1 2020 earnings at $0.74 EPS, Q2 2020 earnings at $0.76 EPS, Q3 2020 earnings at $0.79 EPS and FY2020 earnings at $3.10 EPS.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $1.35 EPS.

FITB has been the subject of several other research reports. BidaskClub lowered shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Nomura upgraded shares of Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $29.00 in a report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, UBS Group upgraded shares of Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $32.31.

Fifth Third Bancorp stock opened at $27.96 on Friday. The stock has a market capitalization of $18.55 billion, a PE ratio of 10.43, a PEG ratio of 1.56 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a 12-month low of $24.10 and a 12-month high of $34.67.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. Fifth Third Bancorp’s payout ratio is 26.87%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. DnB Asset Management AS raised its holdings in Fifth Third Bancorp by 8.1% during the second quarter. DnB Asset Management AS now owns 92,333 shares of the financial services provider’s stock worth $2,650,000 after acquiring an additional 6,900 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Fifth Third Bancorp by 42.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 31,835 shares of the financial services provider’s stock worth $914,000 after buying an additional 9,502 shares in the last quarter. KAMES CAPITAL plc purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter worth $1,023,000. State of Alaska Department of Revenue grew its stake in shares of Fifth Third Bancorp by 40.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 157,323 shares of the financial services provider’s stock worth $4,513,000 after buying an additional 45,030 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Fifth Third Bancorp by 5.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 201,966 shares of the financial services provider’s stock worth $5,796,000 after buying an additional 9,693 shares in the last quarter. Institutional investors own 83.77% of the company’s stock.

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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