Q3 2024 EPS Estimates for Fifth Third Bancorp (NASDAQ:FITB) Lowered by Analyst

Fifth Third Bancorp (NASDAQ:FITB) – Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for Fifth Third Bancorp in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.82 per share for the quarter, down from their previous forecast of $0.84. The consensus estimate for Fifth Third Bancorp’s current full-year earnings is $3.17 per share. Wedbush also issued estimates for Fifth Third Bancorp’s Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $0.88 EPS, Q3 2025 earnings at $0.88 EPS and Q4 2025 earnings at $0.87 EPS.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $33.00 to $37.00 in a report on Tuesday, January 9th. Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Morgan Stanley upped their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. UBS Group upped their price target on Fifth Third Bancorp from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group increased their price objective on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $35.30.

Fifth Third Bancorp Stock Performance

FITB opened at $36.74 on Thursday. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.36. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.38 and a beta of 1.26. The business has a 50 day moving average of $34.69 and a 200-day moving average of $30.68. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the firm posted $1.04 earnings per share.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GoalVest Advisory LLC boosted its stake in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $36,000. Clear Street Markets LLC raised its holdings in shares of Fifth Third Bancorp by 93.4% in the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after buying an additional 647 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth $38,000. 83.79% of the stock is currently owned by institutional investors.

About Fifth Third Bancorp

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.