Fifth Third Bancorp (NASDAQ:FITB) Releases Earnings Results, Beats Expectations By $0.14 EPS

Fifth Third Bancorp (NASDAQ:FITB) released its earnings results on Wednesday. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14, Fidelity Earnings reports. Fifth Third Bancorp had a return on equity of 7.52% and a net margin of 17.50%. During the same period last year, the firm posted $0.68 earnings per share.

NASDAQ FITB opened at $30.90 on Friday. The business’s fifty day moving average price is $28.74 and its 200-day moving average price is $23.63. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.54 and a beta of 1.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.91 and a quick ratio of 0.89. Fifth Third Bancorp has a 1-year low of $11.10 and a 1-year high of $32.82.

The company also recently declared a quarterly dividend, which was paid on Friday, January 15th. Stockholders of record on Thursday, December 31st were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, December 30th. This represents a $1.08 annualized dividend and a dividend yield of 3.50%. Fifth Third Bancorp’s payout ratio is 38.99%.

A number of equities research analysts have recently weighed in on FITB shares. JPMorgan Chase & Co. boosted their target price on Fifth Third Bancorp from $20.50 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Janney Montgomery Scott raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $28.75 price target for the company in a research report on Friday, October 23rd. Morgan Stanley upped their price target on Fifth Third Bancorp from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, January 7th. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research report on Tuesday, December 8th. Finally, Wedbush increased their target price on Fifth Third Bancorp from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.71.

In other news, EVP Kevin P. Lavender sold 8,500 shares of the stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $25.81, for a total transaction of $219,385.00. Following the transaction, the executive vice president now directly owns 71,677 shares of the company’s stock, valued at approximately $1,849,983.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

About Fifth Third Bancorp

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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