Q1 2021 EPS Estimates for Fifth Third Bancorp (NASDAQ:FITB) Boosted by Wedbush


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Fifth Third Bancorp (NASDAQ:FITB) – Stock analysts at Wedbush upped their Q1 2021 earnings estimates for shares of Fifth Third Bancorp in a research report issued on Tuesday, April 6th. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $0.72 per share for the quarter, up from their previous forecast of $0.71. Wedbush currently has a “Outperform” rating and a $39.00 target price on the stock.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Wednesday, January 20th. The financial services provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.14. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Fifth Third Bancorp had a return on equity of 7.52% and a net margin of 17.50%. During the same period in the previous year, the firm earned $0.68 EPS.

A number of other equities research analysts have also issued reports on FITB. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $28.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, April 1st. Barclays raised their target price on Fifth Third Bancorp from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens upped their price target on Fifth Third Bancorp from $36.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. The Goldman Sachs Group upgraded Fifth Third Bancorp from a “buy” rating to a “conviction-buy” rating in a research report on Friday, March 5th. Finally, Wolfe Research upped their target price on Fifth Third Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, March 25th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.67.

Shares of NASDAQ FITB opened at $38.40 on Thursday. The firm’s fifty day moving average is $36.88 and its 200 day moving average is $29.18. Fifth Third Bancorp has a 52 week low of $14.47 and a 52 week high of $40.46. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.73. The company has a market cap of $27.30 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.54 and a beta of 1.63.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, March 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 38.99%.

In other news, Director Mitchell Feiger sold 60,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $38.20, for a total transaction of $2,292,000.00. Following the completion of the transaction, the director now directly owns 3,271 shares in the company, valued at $124,952.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margaret B. Jula sold 19,918 shares of Fifth Third Bancorp stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $39.01, for a total transaction of $777,001.18. Following the transaction, the executive vice president now owns 33,259 shares of the company’s stock, valued at $1,297,433.59. The disclosure for this sale can be found here. Insiders sold a total of 100,936 shares of company stock worth $3,779,352 over the last ninety days. Insiders own 0.52% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FITB. Boston Partners increased its stake in Fifth Third Bancorp by 1.6% during the 4th quarter. Boston Partners now owns 20,657,599 shares of the financial services provider’s stock valued at $569,530,000 after purchasing an additional 325,960 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fifth Third Bancorp by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,684,007 shares of the financial services provider’s stock valued at $266,972,000 after acquiring an additional 36,970 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,484,295 shares of the financial services provider’s stock worth $261,483,000 after acquiring an additional 240,823 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Fifth Third Bancorp by 46.4% during the 4th quarter. Nuveen Asset Management LLC now owns 8,083,824 shares of the financial services provider’s stock valued at $222,870,000 after purchasing an additional 2,563,567 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $217,028,000. Institutional investors own 79.19% 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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