FY2018 EPS Estimates for Fifth Third Bancorp Decreased by Jefferies Financial Group (FITB)

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Fifth Third Bancorp (NASDAQ:FITB) – Jefferies Financial Group decreased their FY2018 earnings estimates for shares of Fifth Third Bancorp in a research report issued to clients and investors on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $2.44 per share for the year, down from their prior forecast of $2.46. Jefferies Financial Group also issued estimates for Fifth Third Bancorp’s Q2 2019 earnings at $0.68 EPS, FY2019 earnings at $2.69 EPS and FY2020 earnings at $2.90 EPS.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. During the same quarter last year, the company earned $1.35 EPS.

Several other equities analysts have also recently commented on FITB. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Wedbush set a $34.00 target price on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research note on Thursday, September 20th. BidaskClub raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Nomura raised shares of Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $29.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, BMO Capital Markets lowered their target price on shares of Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $31.75.

Fifth Third Bancorp stock opened at $24.92 on Friday. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.89. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Fifth Third Bancorp by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,613,248 shares of the financial services provider’s stock worth $240,479,000 after purchasing an additional 212,416 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Fifth Third Bancorp by 30.9% in the third quarter. Schroder Investment Management Group now owns 5,454,270 shares of the financial services provider’s stock worth $152,283,000 after buying an additional 1,287,708 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Fifth Third Bancorp by 5.1% in the third quarter. Janus Henderson Group PLC now owns 5,124,801 shares of the financial services provider’s stock worth $143,084,000 after buying an additional 249,267 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Fifth Third Bancorp by 12.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,531,360 shares of the financial services provider’s stock worth $126,118,000 after buying an additional 487,973 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of Fifth Third Bancorp by 2.8% in the third quarter. Pzena Investment Management LLC now owns 4,189,443 shares of the financial services provider’s stock worth $116,969,000 after buying an additional 113,728 shares during the period. 81.85% of the stock is currently owned by institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.53%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.18. Fifth Third Bancorp’s payout ratio is currently 32.84%.

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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