Q4 2017 EPS Estimates for Fifth Third Bancorp Reduced by Jefferies Group (FITB)

Fifth Third Bancorp (NASDAQ:FITB) – Jefferies Group cut their Q4 2017 earnings per share (EPS) estimates for Fifth Third Bancorp in a report issued on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings of $0.48 per share for the quarter, down from their previous estimate of $0.49. Jefferies Group also issued estimates for Fifth Third Bancorp’s FY2018 earnings at $2.30 EPS.

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

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, September 25th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Fifth Third Bancorp in a research report on Sunday, December 10th. BidaskClub raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Barclays upped their target price on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $29.33.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $31.58 on Tuesday. The firm has a market cap of $22,280.00, a PE ratio of 11.92, a PEG ratio of 2.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.92.

A number of institutional investors and hedge funds have recently bought and sold shares of FITB. Horan Capital Advisors LLC. bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $102,000. Valeo Financial Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $119,000. Sun Life Financial INC lifted its stake in Fifth Third Bancorp by 55,050.0% during the 2nd quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 5,505 shares during the period. HighPoint Advisor Group LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $202,000. Finally, Regentatlantic Capital LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 83.84% of the company’s stock.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 28th. Fifth Third Bancorp’s payout ratio is 24.15%.

ILLEGAL ACTIVITY NOTICE: “Q4 2017 EPS Estimates for Fifth Third Bancorp Reduced by Jefferies Group (FITB)” was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.themarketsdaily.com/2018/01/11/q4-2017-eps-estimates-for-fifth-third-bancorp-reduced-by-jefferies-group-fitb.html.

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.

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply