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

Fifth Third Bancorp (NASDAQ:FITB) – Investment analysts at Wedbush reduced their Q3 2024 earnings per share estimates for shares of Fifth Third Bancorp in a research note issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.82 for the quarter, down from their previous estimate 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.

A number of other analysts have also commented on FITB. UBS Group lifted their target price on Fifth Third Bancorp from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. The Goldman Sachs Group lifted their target price on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Morgan Stanley lifted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $33.00 to $37.00 in a report on Tuesday, January 9th. Finally, Barclays raised their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.30.

Fifth Third Bancorp Stock Up 2.0 %

FITB stock opened at $36.74 on Thursday. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.36. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The firm has a market cap of $25.03 billion, a PE ratio of 11.37, a price-to-earnings-growth 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.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.15 billion. During the same quarter in the prior year, the company earned $1.04 EPS.

Institutional Investors Weigh In On Fifth Third Bancorp

Several large investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC boosted its position in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares during the period. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $36,000. Financial Management Professionals Inc. boosted its position in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,000 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $38,000. Finally, Covestor Ltd boosted its holdings in shares of Fifth Third Bancorp by 43.9% in the first quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 372 shares during the period. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was 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 $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 25th. The stock was 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 $5,072,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following 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. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued 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%.

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.