Equities analysts predict that Fifth Third Bancorp (NASDAQ:FITB – Get Rating) will post sales of $2.09 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fifth Third Bancorp’s earnings. The highest sales estimate is $2.11 billion and the lowest is $2.07 billion. Fifth Third Bancorp posted sales of $1.95 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The firm is scheduled to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Fifth Third Bancorp will report full year sales of $8.46 billion for the current year, with estimates ranging from $8.41 billion to $8.52 billion. For the next year, analysts anticipate that the company will post sales of $9.18 billion, with estimates ranging from $9.06 billion to $9.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Fifth Third Bancorp.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released its earnings results on Tuesday, April 19th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Fifth Third Bancorp had a return on equity of 12.99% and a net margin of 31.14%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.93 earnings per share.
Fifth Third Bancorp stock opened at $39.56 on Wednesday. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.29 and a beta of 1.30. The company’s fifty day moving average price is $38.74 and its two-hundred day moving average price is $43.27. Fifth Third Bancorp has a one year low of $34.35 and a one year high of $50.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.81 and a quick ratio of 0.80.
The company also recently declared a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Thursday, March 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, March 30th. Fifth Third Bancorp’s payout ratio is currently 34.38%.
In other Fifth Third Bancorp news, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 644,745 shares in the company, valued at $25,822,037.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total transaction of $92,325.00. Following the completion of the sale, the executive vice president now owns 45,844 shares of the company’s stock, valued at $1,693,018.92. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in Fifth Third Bancorp by 4.2% during the 1st quarter. FMR LLC now owns 815,594 shares of the financial services provider’s stock valued at $20,569,000 after acquiring an additional 32,680 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Fifth Third Bancorp by 10.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 563,358 shares of the financial services provider’s stock valued at $14,209,000 after purchasing an additional 55,145 shares in the last quarter. Ameritas Investment Company LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at $203,000. Ensign Peak Advisors Inc grew its holdings in shares of Fifth Third Bancorp by 4.6% in the third quarter. Ensign Peak Advisors Inc now owns 52,003 shares of the financial services provider’s stock valued at $2,207,000 after purchasing an additional 2,273 shares in the last quarter. Finally, Clark Capital Management Group Inc. bought a new stake in Fifth Third Bancorp in the third quarter worth $244,000. Institutional investors own 81.00% of the company’s stock.
Fifth Third Bancorp Company Profile (Get Rating)
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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