Fifth Third Bancorp (FITB) Set to Announce Quarterly Earnings on Friday

Fifth Third Bancorp (NASDAQ:FITB) will be issuing its quarterly earnings data before the market opens on Friday, October 18th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, analysts expect Fifth Third Bancorp to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Fifth Third Bancorp Price Performance

FITB stock opened at $44.65 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $45.57. The stock’s 50 day moving average is $41.81 and its two-hundred day moving average is $38.94. The company has a market capitalization of $30.54 billion, a PE ratio of 14.17, a P/E/G ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.31%. Fifth Third Bancorp’s payout ratio is currently 46.98%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Argus lifted their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.78.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Kevin P. Lavender sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the completion of the sale, the executive vice president now directly owns 125,087 shares of the company’s stock, valued at $5,224,883.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,000 shares of company stock worth $2,169,920. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.