FY2024 Earnings Estimate for FITB Issued By DA Davidson

Fifth Third Bancorp (NASDAQ:FITB) – Research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Fifth Third Bancorp in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings per share of $3.36 for the year, up from their previous forecast of $3.35. The consensus estimate for Fifth Third Bancorp’s current full-year earnings is $3.34 per share.

Several other equities analysts have also recently commented on the stock. Barclays raised their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Citigroup increased their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $45.32.

Fifth Third Bancorp Trading Up 1.6 %

Shares of FITB stock opened at $42.93 on Friday. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company has a 50 day moving average price of $45.64 and a 200 day moving average price of $41.91. The stock has a market capitalization of $28.79 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results 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). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share.

Fifth Third Bancorp Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC raised its stake in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the third quarter worth $39,000. Finally, American Capital Advisory LLC purchased a new position in Fifth Third Bancorp in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.