$1.95 Billion in Sales Expected for Fifth Third Bancorp (NASDAQ:FITB) This Quarter

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Brokerages forecast that Fifth Third Bancorp (NASDAQ:FITB) will announce sales of $1.95 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Fifth Third Bancorp’s earnings. The highest sales estimate is $1.99 billion and the lowest is $1.94 billion. Fifth Third Bancorp posted sales of $1.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 28th.

On average, analysts expect that Fifth Third Bancorp will report full year sales of $7.81 billion for the current year, with estimates ranging from $7.47 billion to $8.03 billion. For the next year, analysts forecast that the company will post sales of $7.77 billion, with estimates ranging from $7.62 billion to $7.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Fifth Third Bancorp had a return on equity of 11.40% and a net margin of 24.36%. During the same period last year, the company earned $0.64 earnings per share.

Several research firms recently commented on FITB. UBS Group raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $33.00 in a report on Friday, October 25th. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Fifth Third Bancorp from $32.00 to $30.50 and set a “neutral” rating for the company in a report on Thursday, October 10th. ValuEngine cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Bank of America increased their price target on Fifth Third Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Fifth Third Bancorp currently has an average rating of “Buy” and a consensus target price of $31.43.

In other Fifth Third Bancorp news, EVP Philip Mchugh sold 36,382 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $30.56, for a total transaction of $1,111,833.92. Also, Director Evan Bayh bought 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $25.93 per share, with a total value of $103,720.00. Following the purchase, the director now owns 48,517 shares of the company’s stock, valued at $1,258,045.81. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Rational Advisors LLC grew its stake in shares of Fifth Third Bancorp by 122.5% in the third quarter. Rational Advisors LLC now owns 7,166 shares of the financial services provider’s stock valued at $196,000 after buying an additional 3,946 shares in the last quarter. Corient Capital Partners LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at $676,000. Banco Santander S.A. grew its stake in shares of Fifth Third Bancorp by 76.8% in the third quarter. Banco Santander S.A. now owns 25,539 shares of the financial services provider’s stock valued at $699,000 after buying an additional 11,093 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at $472,000. Finally, D.A. Davidson & CO. grew its stake in shares of Fifth Third Bancorp by 2.1% in the third quarter. D.A. Davidson & CO. now owns 21,390 shares of the financial services provider’s stock valued at $586,000 after buying an additional 450 shares in the last quarter. 78.06% of the stock is owned by institutional investors.

Fifth Third Bancorp stock traded up $0.05 during midday trading on Thursday, hitting $30.56. 3,597,500 shares of the company were exchanged, compared to its average volume of 6,476,386. Fifth Third Bancorp has a fifty-two week low of $22.12 and a fifty-two week high of $30.89. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market capitalization of $22.17 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.40. The business has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $27.58.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 3.14%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 37.80%.

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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