Fifth Third Bancorp (NASDAQ:FITB – Get Rating) – Analysts at Wedbush decreased their Q1 2022 earnings per share (EPS) estimates for Fifth Third Bancorp in a research report issued on Tuesday, April 12th. Wedbush analyst P. Winter now forecasts that the financial services provider will earn $0.71 per share for the quarter, down from their previous estimate of $0.73.
Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last issued its quarterly earnings results on Thursday, January 20th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.02 billion. Fifth Third Bancorp had a net margin of 33.25% and a return on equity of 13.55%. During the same quarter in the previous year, the firm earned $0.88 EPS.
Shares of NASDAQ FITB opened at $39.63 on Wednesday. Fifth Third Bancorp has a one year low of $34.35 and a one year high of $50.64. The firm has a market cap of $27.09 billion, a PE ratio of 10.60, a PEG ratio of 1.40 and a beta of 1.29. The firm has a fifty day moving average of $45.66 and a 200 day moving average of $44.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.88.
A number of large investors have recently modified their holdings of the business. Bowling Portfolio Management LLC increased its stake in Fifth Third Bancorp by 0.9% during the first quarter. Bowling Portfolio Management LLC now owns 53,965 shares of the financial services provider’s stock worth $2,323,000 after purchasing an additional 488 shares during the period. Veriti Management LLC increased its stake in Fifth Third Bancorp by 687.5% during the first quarter. Veriti Management LLC now owns 103,979 shares of the financial services provider’s stock worth $4,475,000 after purchasing an additional 90,776 shares during the period. Maryland State Retirement & Pension System increased its stake in Fifth Third Bancorp by 2.1% during the first quarter. Maryland State Retirement & Pension System now owns 52,711 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 1,061 shares during the period. Strategy Asset Managers LLC purchased a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $344,000. Finally, Sound Income Strategies LLC increased its stake in shares of Fifth Third Bancorp by 59.2% during the first quarter. Sound Income Strategies LLC now owns 1,345 shares of the financial services provider’s stock worth $58,000 after buying an additional 500 shares during the period. Institutional investors own 81.71% of the company’s stock.
In other Fifth Third Bancorp news, President Timothy Spence sold 4,558 shares of the company’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $48.07, for a total value of $219,103.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Greg D. Carmichael sold 67,687 shares of the company’s stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $49.21, for a total transaction of $3,330,877.27. The disclosure for this sale can be found here. Insiders sold 74,745 shares of company stock worth $3,669,055 in the last ninety days. 0.67% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 18th. Shareholders of record on Thursday, March 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.03%. Fifth Third Bancorp’s payout ratio is currently 32.09%.
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.
- Get a free copy of the StockNews.com research report on Fifth Third Bancorp (FITB)
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