Jefferies Group Weighs in on Fifth Third Bancorp’s Q4 2017 Earnings (FITB)

Fifth Third Bancorp (NASDAQ:FITB) – Research analysts at Jefferies Group dropped their Q4 2017 earnings estimates for Fifth Third Bancorp in a report issued on Friday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $0.49 for the quarter, down from their prior forecast of $0.50.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.65 EPS.

Other research analysts have also issued research reports about the stock. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Friday. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a research note on Tuesday, October 24th. Bank of America upped their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, September 25th. Finally, Nomura increased their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $28.38.

Fifth Third Bancorp (FITB) opened at $30.30 on Monday. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $31.83. The company has a market cap of $21,428.50, a PE ratio of 16.87, a P/E/G ratio of 2.53 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.

In other news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Fifth Third Bancorp by 5.8% during the second quarter. Janney Montgomery Scott LLC now owns 30,114 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 1,646 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Fifth Third Bancorp by 15.8% during the second quarter. Global X Management Co. LLC now owns 23,680 shares of the financial services provider’s stock worth $615,000 after buying an additional 3,238 shares during the period. Trexquant Investment LP acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $299,000. Schwab Charles Investment Management Inc. increased its position in shares of Fifth Third Bancorp by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,551,216 shares of the financial services provider’s stock worth $66,230,000 after buying an additional 105,410 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Fifth Third Bancorp by 13.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 68,035 shares of the financial services provider’s stock worth $1,847,000 after buying an additional 7,935 shares during the period. 83.97% of the stock is owned by institutional investors.

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About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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

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