Fifth Third Bancorp (FITB) to Release Earnings on Tuesday

Fifth Third Bancorp (NASDAQ:FITB) is projected to post its quarterly earnings results before the market opens on Tuesday, January 21st. Analysts expect Fifth Third Bancorp to post earnings of $0.88 per share and revenue of $2,210,200.00 billion for the quarter. Fifth Third Bancorp has set its Q4 2024 guidance at EPS.

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 business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. 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 Stock Performance

Shares of Fifth Third Bancorp stock traded up $1.11 during trading hours on Wednesday, hitting $44.00. 4,470,527 shares of the company’s stock traded hands, compared to its average volume of 5,054,536. The stock has a market capitalization of $29.50 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.18 and a beta of 1.24. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day simple moving average of $45.17 and a 200-day simple moving average of $42.75.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Analysts Set New Price Targets

FITB has been the subject of a number of research reports. Truist Financial began coverage on shares of Fifth Third Bancorp in a research report on Tuesday, January 7th. They set a “buy” rating and a $51.00 target price for the company. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Evercore ISI upped their price objective 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $45.92.

Insider Activity

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 transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% 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.