FIG Partners Comments on Fifth Third Bancorp’s FY2018 Earnings (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) – Equities researchers at FIG Partners boosted their FY2018 earnings per share estimates for Fifth Third Bancorp in a research report issued on Wednesday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now anticipates that the financial services provider will earn $2.16 per share for the year, up from their previous forecast of $2.10.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.65 earnings per share.

Other analysts also recently issued reports about the company. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Bank of America lifted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Zacks Investment Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Nomura lifted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $29.33.

Fifth Third Bancorp (NASDAQ:FITB) opened at $32.35 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $32.36. The company has a market capitalization of $22,479.82, a P/E ratio of 12.12, a PEG ratio of 2.18 and a beta of 1.35.

A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in shares of Fifth Third Bancorp by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 208,006 shares of the financial services provider’s stock valued at $5,400,000 after buying an additional 9,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Fifth Third Bancorp by 2.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 192,825 shares of the financial services provider’s stock valued at $5,006,000 after buying an additional 5,266 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,331 shares of the financial services provider’s stock valued at $995,000 after buying an additional 612 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of Fifth Third Bancorp by 5.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 12,535 shares of the financial services provider’s stock valued at $325,000 after buying an additional 660 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Fifth Third Bancorp by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock valued at $38,232,000 after buying an additional 68,859 shares during the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.

In related news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.98%. Fifth Third Bancorp’s dividend payout ratio is currently 23.97%.

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About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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Earnings History and Estimates for Fifth Third Bancorp (NASDAQ:FITB)

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