Analysts predict that Fifth Third Bancorp (NASDAQ:FITB) will report earnings of $0.66 per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Fifth Third Bancorp’s earnings, with estimates ranging from $0.63 to $0.72. Fifth Third Bancorp posted earnings per share of $0.63 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that Fifth Third Bancorp will report full year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.72 to $2.90. For the next financial year, analysts forecast that the firm will post earnings of $3.08 per share, with EPS estimates ranging from $2.95 to $3.21. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.67 billion. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. During the same quarter last year, the company earned $0.57 earnings per share.

Several equities analysts recently commented on the stock. Sandler O’Neill raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research cut shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th. BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo in a research note on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price objective for the company. Finally, BMO Capital Markets raised shares of Gold Fields from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $31.27.

NASDAQ:FITB traded up $0.13 during mid-day trading on Monday, hitting $27.94. 4,309,895 shares of the stock traded hands, compared to its average volume of 5,233,109. The firm’s 50-day moving average is $27.53. The company has a market cap of $20.42 billion, a P/E ratio of 11.00, a PEG ratio of 1.39 and a beta of 1.33. Fifth Third Bancorp has a 12-month low of $22.12 and a 12-month high of $30.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Fifth Third Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 18th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 27th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.44%. Fifth Third Bancorp’s payout ratio is presently 37.80%.

In other Fifth Third Bancorp news, Director Jewell D. Hoover sold 3,739 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.51, for a total transaction of $99,120.89. Following the completion of the sale, the director now directly owns 50,397 shares in the company, valued at $1,336,024.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Teresa J. Tanner sold 2,918 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total transaction of $83,892.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,866 shares of company stock valued at $189,070. 0.40% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Unison Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 0.7% in the 1st quarter. Unison Advisors LLC now owns 56,420 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 403 shares during the last quarter. Executive Wealth Management LLC lifted its holdings in shares of Fifth Third Bancorp by 14.8% in the 1st quarter. Executive Wealth Management LLC now owns 3,390 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 437 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 0.3% in the 1st quarter. AlphaMark Advisors LLC now owns 143,945 shares of the financial services provider’s stock worth $3,630,000 after acquiring an additional 437 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Fifth Third Bancorp by 53.9% in the 2nd quarter. NEXT Financial Group Inc now owns 1,265 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 443 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of Fifth Third Bancorp by 5.9% in the 2nd quarter. Raymond James Trust N.A. now owns 9,778 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 542 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Fifth Third Bancorp

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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Earnings History and Estimates for Fifth Third Bancorp (NASDAQ:FITB)

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