Trade Report: The FY2016 EPS Estimates for Fifth Third Bancorp (FITB) Boosted by Jefferies Group

The FY2016 EPS Estimates for Fifth Third Bancorp (FITB) Boosted by Jefferies Group

Fifth Third Bancorp (NASDAQ:FITB) – Investment analysts at Jefferies Group raised their FY2016 earnings per share estimates for Fifth Third Bancorp in a report issued on Friday. Jefferies Group analyst K. Usdin now anticipates that the brokerage will post earnings of $1.61 per share for the year, up from their prior estimate of $1.59. Jefferies Group currently has a “Hold” rating and a $22.00 price target on the stock. Jefferies Group also issued estimates for Fifth Third Bancorp’s Q1 2017 earnings at $0.38 EPS, Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS and FY2018 earnings at $1.85 EPS.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period in the previous year, the firm posted $0.36 earnings per share.

Other analysts have also issued reports about the stock. Rafferty Capital Markets upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, September 16th. Compass Point upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $23.20 price target on the stock in a research note on Wednesday, September 14th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, October 4th. Barclays PLC reiterated an “equal weight” rating and set a $21.00 price target on shares of Fifth Third Bancorp in a research note on Sunday, July 10th. Finally, Morgan Stanley lowered shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $21.00 to $20.00 in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.64.

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Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 20.69 on Monday. The firm has a market capitalization of $15.86 billion, a PE ratio of 10.08 and a beta of 1.33. Fifth Third Bancorp has a 1-year low of $13.84 and a 1-year high of $21.14. The company has a 50-day moving average of $20.25 and a 200-day moving average of $18.61.

Several hedge funds and other institutional investors have recently made changes to their positions in FITB. Global X Management Co. LLC boosted its position in shares of Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,371 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Fifth Third Bancorp during the first quarter worth $112,000. Advisory Services Network LLC boosted its position in shares of Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock worth $112,000 after buying an additional 3,857 shares in the last quarter. Duncker Streett & Co. Inc. boosted its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter worth $179,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio is currently 25.49%.

Fifth Third Bancorp Company Profile

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