FY2016 EPS Estimates for Fifth Third Bancorp (FITB) Boosted by Jefferies Group
Fifth Third Bancorp (NASDAQ:FITB) – Investment analysts at Jefferies Group increased their FY2016 earnings estimates for shares of Fifth Third Bancorp in a research note issued to investors on Friday. Jefferies Group analyst K. Usdin now anticipates that the firm will post earnings per share of $1.61 for the year, up from their previous forecast of $1.59. Jefferies Group currently has a “Hold” rating and a $22.00 target price on the stock. Jefferies Group also issued estimates for Fifth Third Bancorp’s Q1 2017 earnings at $0.38 EPS, Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS and FY2018 earnings at $1.85 EPS.
A number of other equities analysts have also recently issued reports on the company. Barclays PLC reissued an “equal weight” rating and issued a $21.00 target price on shares of Fifth Third Bancorp in a report on Sunday, July 10th. Credit Agricole SA increased their target price on Fifth Third Bancorp from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Stephens cut Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 5th. Morgan Stanley cut Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $21.00 to $20.00 in a report on Tuesday, July 5th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating on shares of Fifth Third Bancorp in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.64.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 20.69 on Monday. Fifth Third Bancorp has a 12 month low of $13.84 and a 12 month high of $21.14. The stock’s 50 day moving average price is $20.25 and its 200-day moving average price is $18.61. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 10.08 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same quarter last year, the firm earned $0.36 EPS.
Hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC increased its stake in Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,371 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Fifth Third Bancorp during the first quarter worth about $112,000. Advisory Services Network LLC increased its stake in Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock worth $112,000 after buying an additional 3,857 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in Fifth Third Bancorp during the second quarter worth about $179,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio is currently 25.49%.
Fifth Third Bancorp Company Profile
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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