Fifth Third Bancorp (NASDAQ:FITB) – Equities research analysts at Jefferies Group cut their Q4 2017 earnings per share estimates for shares of Fifth Third Bancorp in a report released on Friday, according to Zacks Investment Research. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $0.49 for the quarter, down from their prior estimate of $0.50.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $0.65 earnings per share.
A number of other research analysts have also commented on FITB. Sanford C. Bernstein restated a “market perform” rating and issued a $31.00 price objective (up from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, September 25th. Deutsche Bank restated a “hold” rating and issued a $27.00 price objective (up from $24.00) on shares of Fifth Third Bancorp in a research note on Tuesday, September 26th. Nomura lifted their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Finally, Instinet reaffirmed a “neutral” rating and issued a $29.00 target price (up previously from $28.00) on shares of Fifth Third Bancorp in a report on Saturday, September 30th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.98.
Fifth Third Bancorp (NASDAQ:FITB) traded up $0.09 during midday trading on Monday, reaching $30.43. 6,669,975 shares of the company’s stock were exchanged, compared to its average volume of 5,865,150. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $21,470.00, a price-to-earnings ratio of 11.48, a PEG ratio of 2.53 and a beta of 1.35. Fifth Third Bancorp has a one year low of $23.20 and a one year high of $31.83.
Hedge funds have recently added to or reduced their stakes in the stock. Horan Capital Advisors LLC. purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $102,000. Valeo Financial Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $119,000. Sun Life Financial INC lifted its holdings in shares of Fifth Third Bancorp by 55,050.0% in the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 5,505 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $202,000. Finally, Regentatlantic Capital LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $205,000. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Timothy Spence sold 15,000 shares of the business’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 sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio is currently 24.15%.
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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.
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