DA Davidson Brokers Lower Earnings Estimates for Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB - Free Report) - Equities researchers at DA Davidson cut their FY2025 earnings estimates for Fifth Third Bancorp in a report released on Thursday, October 3rd. DA Davidson analyst P. Winter now expects that the financial services provider will earn $3.59 per share for the year, down from their previous forecast of $3.60. The consensus estimate for Fifth Third Bancorp's current full-year earnings is $3.30 per share.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.04). The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period last year, the business earned $0.87 EPS.

Other equities analysts also recently issued research reports about the company. Stephens reiterated an "equal weight" rating and issued a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Evercore ISI raised their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Finally, Argus upped their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.78.

Fifth Third Bancorp Trading Up 0.1 %

NASDAQ FITB traded up $0.06 on Monday, hitting $42.16. The company's stock had a trading volume of 3,222,349 shares, compared to its average volume of 4,612,784. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $43.85. The firm has a market cap of $28.84 billion, a P/E ratio of 13.36, a PEG ratio of 2.03 and a beta of 1.22. The company's 50-day simple moving average is $41.48 and its 200 day simple moving average is $38.62.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider's stock worth $3,012,472,000 after purchasing an additional 734,403 shares during the period. Capital World Investors boosted its holdings in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider's stock valued at $1,733,847,000 after acquiring an additional 5,512,333 shares during the period. Dimensional Fund Advisors LP grew its position in Fifth Third Bancorp by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider's stock valued at $356,031,000 after acquiring an additional 281,494 shares during the last quarter. LSV Asset Management increased its stake in Fifth Third Bancorp by 2.3% in the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider's stock worth $165,015,000 after buying an additional 99,593 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Fifth Third Bancorp by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider's stock worth $62,096,000 after acquiring an additional 56,298 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Activity

In other news, EVP Jude Schramm sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company's stock, valued at $5,376,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the business's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares of the company's stock, valued at approximately $863,802.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now directly owns 134,422 shares of the company's stock, valued at $5,376,880. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,500 shares of company stock valued at $2,269,920 in the last 90 days. Company insiders own 0.50% of the company's stock.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.51%. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp's payout ratio is 46.98%.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.