Fifth Third Bancorp (FITB) Set to Announce Quarterly Earnings on Friday

Fifth Third Bancorp (NASDAQ:FITB) is set to announce its earnings results before the market opens on Friday, October 18th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm earned $0.87 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 Stock Performance

Shares of FITB opened at $42.67 on Friday. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $43.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market cap of $29.19 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. The stock has a 50-day moving average price of $41.48 and a 200-day moving average price of $38.72.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the sale, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock worth $2,269,920 in the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FITB shares. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Argus increased their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Evercore ISI raised their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Bank of America boosted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $41.78.

About Fifth Third Bancorp

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.