Fifth Third Bancorp (FITB) Expected to Announce Quarterly Earnings on Tuesday

Fifth Third Bancorp (NASDAQ:FITB) is expected to be releasing its earnings data before the market opens on Tuesday, January 21st. Analysts expect Fifth Third Bancorp to post earnings of $0.88 per share and revenue of $2,210,200.00 billion for the quarter. Fifth Third Bancorp has set its Q4 2024 guidance at EPS.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, analysts expect Fifth Third Bancorp to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Fifth Third Bancorp Trading Up 2.6 %

Shares of NASDAQ:FITB traded up $1.11 during mid-day trading on Wednesday, reaching $44.00. 4,470,527 shares of the company’s stock were exchanged, compared to its average volume of 5,054,536. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The firm has a market capitalization of $29.50 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.18 and a beta of 1.24. The business’s fifty day moving average price is $45.17 and its 200-day moving average price is $42.75.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of analyst reports. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Piper Sandler raised their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Truist Financial started coverage on shares of Fifth Third Bancorp in a report on Tuesday, January 7th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $45.92.

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.