The Fifth Third Bancorp (FITB) Scheduled to Post Quarterly Earnings on Thursday

The Fifth Third Bancorp (FITB) Scheduled to Post Quarterly Earnings on Thursday

Fifth Third Bancorp (NASDAQ:FITB) is scheduled to be posting its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect Fifth Third Bancorp to post earnings of $0.41 per share and revenue of $1.58 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period in the previous year, the company posted $0.36 EPS. On average, analysts expect Fifth Third Bancorp to post $1.60 EPS for the current fiscal year and $1.68 EPS for the next fiscal year.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 19.58 on Tuesday. Fifth Third Bancorp has a 12-month low of $13.84 and a 12-month high of $21.14. The firm has a 50 day moving average price of $20.34 and a 200 day moving average price of $18.76. The stock has a market cap of $15.01 billion, a PE ratio of 9.54 and a beta of 1.33.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio is currently 25.49%.

Several large investors have recently modified their holdings of the company. Banced Corp increased its stake in shares of Fifth Third Bancorp by 0.7% in the second quarter. Banced Corp now owns 18,101 shares of the financial services provider’s stock valued at $342,000 after buying an additional 117 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in shares of Fifth Third Bancorp by 3.7% in the second quarter. Wetherby Asset Management Inc. now owns 11,971 shares of the financial services provider’s stock valued at $211,000 after buying an additional 431 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Fifth Third Bancorp by 4.5% in the second quarter. Stratos Wealth Partners LTD. now owns 11,140 shares of the financial services provider’s stock valued at $196,000 after buying an additional 481 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Fifth Third Bancorp by 3.8% in the second quarter. Ancora Advisors LLC now owns 13,596 shares of the financial services provider’s stock valued at $239,000 after buying an additional 500 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in shares of Fifth Third Bancorp by 0.4% in the second quarter. Johnson Investment Counsel Inc. now owns 223,590 shares of the financial services provider’s stock valued at $3,932,000 after buying an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

FITB has been the subject of several research analyst reports. Morgan Stanley lowered Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $21.00 to $20.00 in a report on Tuesday, July 5th. Oppenheimer Holdings Inc. lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 6th. Credit Suisse Group AG lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 6th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Fifth Third Bancorp in a report on Wednesday, July 6th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $19.50 price objective on shares of Fifth Third Bancorp in a report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.55.

Fifth Third Bancorp Company Profile

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