DA Davidson Cuts Earnings Estimates for Fifth Third Bancorp

Fifth Third Bancorp (NASDAQ:FITB) – Equities researchers at DA Davidson dropped their FY2025 earnings per share (EPS) estimates for shares of Fifth Third Bancorp in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings of $3.58 per share for the year, down from their previous forecast of $3.63. The consensus estimate for Fifth Third Bancorp’s current full-year earnings is $3.34 per share.

FITB has been the topic of a number of other research reports. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Citigroup raised their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.32.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $42.93 on Monday. The firm’s 50 day simple moving average is $45.64 and its 200 day simple moving average is $41.91. The firm has a market capitalization of $28.79 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Fifth Third Bancorp

Several large investors have recently added to or reduced their stakes in FITB. Jupiter Asset Management Ltd. acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $33,337,000. Charles Schwab Investment Management Inc. grew its holdings in Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Fifth Third Bancorp in the third quarter valued at $28,490,000. Millennium Management LLC raised its holdings in shares of Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after purchasing an additional 575,449 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Fifth Third Bancorp

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.