Analysts expect that Fifth Third Bancorp (NASDAQ:FITB) will announce $1.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Fifth Third Bancorp’s earnings, with estimates ranging from $1.62 billion to $1.64 billion. Fifth Third Bancorp posted sales of $1.54 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 23rd.

On average, analysts expect that Fifth Third Bancorp will report full-year sales of $6.64 billion for the current financial year, with estimates ranging from $6.34 billion to $6.99 billion. For the next financial year, analysts anticipate that the company will post sales of $7.36 billion per share, with estimates ranging from $6.65 billion to $7.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Fifth Third Bancorp.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.45 EPS.

Several research firms have issued reports on FITB. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a research note on Monday, May 28th. BidaskClub cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 28th. Argus began coverage on shares of Fifth Third Bancorp in a research note on Thursday, June 14th. They issued a “buy” rating and a $36.00 target price on the stock. Nomura cut shares of Fifth Third Bancorp from a “neutral” rating to a “reduce” rating and set a $36.00 target price on the stock. in a research note on Monday, May 21st. Finally, FIG Partners cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, May 21st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.18.

Institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in shares of Fifth Third Bancorp by 106.3% during the 2nd quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock valued at $119,747,000 after purchasing an additional 2,146,656 shares during the last quarter. Andra AP fonden grew its holdings in shares of Fifth Third Bancorp by 18.0% during the 2nd quarter. Andra AP fonden now owns 284,400 shares of the financial services provider’s stock valued at $8,162,000 after purchasing an additional 43,300 shares during the last quarter. Global X Management Co LLC grew its holdings in shares of Fifth Third Bancorp by 77.9% during the 2nd quarter. Global X Management Co LLC now owns 30,483 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 13,346 shares during the last quarter. Fairfield Bush & CO. grew its holdings in shares of Fifth Third Bancorp by 12.2% during the 2nd quarter. Fairfield Bush & CO. now owns 28,784 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Fifth Third Bancorp by 343.7% during the 2nd quarter. Verition Fund Management LLC now owns 28,085 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 21,755 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

NASDAQ FITB opened at $29.49 on Friday. Fifth Third Bancorp has a 1 year low of $24.86 and a 1 year high of $34.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.64 and a beta of 1.25.

Fifth Third Bancorp Company Profile

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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