Equities Analysts Issue Forecasts for Fifth Third Bancorp’s FY2022 Earnings (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITBGet Rating) – Wedbush lifted their FY2022 earnings per share (EPS) estimates for Fifth Third Bancorp in a research note issued to investors on Wednesday, April 20th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings of $3.61 per share for the year, up from their previous estimate of $3.49. Wedbush also issued estimates for Fifth Third Bancorp’s Q4 2023 earnings at $1.09 EPS.

Other research analysts have also issued reports about the stock. Morgan Stanley lowered shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $56.00 to $50.00 in a research report on Monday, March 28th. StockNews.com began coverage on shares of Fifth Third Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America raised their target price on shares of Fifth Third Bancorp from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research note on Monday, January 3rd. Finally, Citigroup reissued a “neutral” rating on shares of Fifth Third Bancorp in a research note on Thursday, March 24th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $48.75.

NASDAQ FITB opened at $38.43 on Friday. The stock has a market capitalization of $26.27 billion, a P/E ratio of 10.28, a P/E/G ratio of 1.34 and a beta of 1.29. Fifth Third Bancorp has a 52-week low of $34.35 and a 52-week high of $50.64. The firm has a 50-day moving average price of $44.26 and a 200 day moving average price of $44.71. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last released its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.01). Fifth Third Bancorp had a net margin of 33.25% and a return on equity of 13.55%. During the same quarter last year, the company posted $0.93 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 30th. Fifth Third Bancorp’s dividend payout ratio is currently 32.09%.

In related news, CEO Greg D. Carmichael sold 67,687 shares of the business’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $49.21, for a total value of $3,330,877.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard Hammond sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $47.63, for a total value of $119,075.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,745 shares of company stock worth $5,671,555. Insiders own 0.67% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FITB. Castle Rock Wealth Management LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $202,000. rhino investment partners Inc lifted its position in Fifth Third Bancorp by 16.3% in the 3rd quarter. rhino investment partners Inc now owns 121,194 shares of the financial services provider’s stock worth $5,143,000 after buying an additional 17,000 shares during the last quarter. Everence Capital Management Inc. lifted its position in Fifth Third Bancorp by 44.8% in the 4th quarter. Everence Capital Management Inc. now owns 28,220 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 8,730 shares during the last quarter. CWM LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $188,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Fifth Third Bancorp by 6.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 350,000 shares of the financial services provider’s stock worth $14,854,000 after purchasing an additional 19,723 shares during the period. Institutional investors own 81.71% of the company’s stock.

About Fifth Third Bancorp (Get Rating)

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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