Fifth Third Bancorp 주식 (NASDAQ: FITB)

에 대한 최신 뉴스 Fifth Third Bancorp (NASDAQ:FITB) 주식

Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.

Fifth Third Bancorp - Depositary Share repstg 1/1000th Ownership Interest Perp Pfd Series I

Fifth Third Bancorp - Depositary Shares each representing a 1/1000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series K

Fifth Third Bancorp - Depositary Shares each representing 1/40th share of Fifth Third 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A

In the last three months, 7 analysts have published ratings on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), offering a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Fifth Third Bancorp, revealing an average target of $45.57, a high estimate of $51.00, and a low estimate of $40.00. This current average has increased by 9.62% from the previous average price target of $41.57. 
<img src="https://www.benzinga.com/files/images/story/2024/1727881228_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Fifth Third Bancorp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Biggar</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fifth Third Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fifth Third Bancorp compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Fifth Third Bancorp's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fifth Third Bancorp's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FITB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fifth Third Bancorp analyst ratings.</a>
<h2>Discovering Fifth Third Bancorp: A Closer Look</h2>
Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
<h3>Breaking Down Fifth Third Bancorp's Financial Performance</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Decline in Revenue: Over the 3 months period, Fifth Third Bancorp faced challenges, resulting in a decline of approximately -3.02% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Fifth Third Bancorp's net margin is impressive, surpassing industry averages. With a net margin of 27.69%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Fifth Third Bancorp's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.3%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Fifth Third Bancorp's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.26%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.13.
<h2>What Are Analyst Ratings?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

FITB

Analyst Scoreboard: 7 Ratings For Fifth Third Bancorp

Evercore ISI Group analyst John Pancari maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a In-Line and raises the price target from $46 to $47.

News

Price Target

Evercore ISI Group Maintains In-Line on Fifth Third Bancorp, Raises Price Target to $47

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $47 to $51.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $51

Fifth Third Receives $50M Allocation In Federal New Markets Tax Credits From U.S. Treasury's $5B Fund, One Of 104 Entities To Receive Award

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) shares touched a 52-week high of $43.85 on Thursday following the Federal Reserve&#39;s announcement of a 50-basis points interest rate cut.
The FITB stock closed slightly lower at $43.64, gaining nearly 18% over the past six months. It has outperformed its industry, the S&amp;P 500 Index and its close peers like Comerica Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>) and Bank of America Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) in the same time frame.
<h3>Six-Month Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/78671.jpg?v=1259988145" />
Image Source: Zacks Investment Research
<h2>Key Drivers Behind FITB Stock&#39;s New 52-Week High</h2>
A major factor for this upward movement of FITB stock can be attributed to the Federal Reserve&#39;s aggressive start to monetary policy easing.
On Wednesday, the central bank signaled two additional rate cuts this year to support the economy. Fed officials further indicated plans for four more cuts in 2025 and two in 2026.
The interest rate cut is a positive development for banks, including Fifth Third, CMA and BAC, which have been struggling with rising funding cost pressures. While higher rates have led to a significant jump in banks&#39; net interest income (NII) the same led to increased funding costs, which squeezed margins.
FITB&#39;s NII has witnessed a three-year (2020-2023) compound annual growth rate of 6.8%. However, the company&#39;s NII declined in the first half of 2024 due to higher funding costs.
So now that the Fed has cut the rates, funding costs will gradually stabilize and eventually start declining, thus supporting FITB&#39;s NII.
<h2>Other Factors Supporting FITB&#39;s Performance</h2>
Raised Guidance: At the Barclays Global Financial Services Conference, FITB raised its third-quarter 2024 outlook. The bank stated that total revenues are now expected to rise 2-3% sequentially in the third quarter from its baseline of $2.2 billion compared with the previous guidance of a 1-2% increase. Also, management updated its non-interest income, now expecting a 3-4% increase from its baseline of $717 million, up from the earlier projection of a 1-2% rise.
Strategic Collaborations: The company has been expanding its embedded payments platform on the back of strategic partnerships, positioning itself for substantial growth in the commercial payments space. Fifth Third&#39;s embedded payments platform, Newline, entered into a collaborative agreement with Trustly in September. This collaboration aims to develop its pay-by-bank arrangements and payments made through the Automated Clearing House&nbsp;and Real Time Payments networks.
In July, the bank announced a collaborative agreement between its embedded payments arm, Newline, and Stripe, a financial infrastructure platform, to expand embedded financial services offerings.
In May 2024, in collaboration with Bottomline, Fifth Third launched Enhanced Payables &mdash; a new payment platform powered by the latter&#39;s business payments network, Paymode-X. This partnership offers customers access to a wide range of payment options, including invoice automation, virtual card payments, premium ACH payments, standard ACH payments, check payments and business-to-consumer payments.
Through such strategic collaborations, the bank anticipates commercial payments to be a $1 billion business in the next five years. This will eventually boost the company&#39;s non-interest income growth over time.
Balance Sheet: The bank has a strong liquidity position. As of June 30, 2024, the company had a total debt (long-term debt and other short-term borrowings) of $19.7 billion and total liquidity (cash and due from banks and other short-term investments) of $23.9 billion. The company&#39;s senior debt enjoyed investment-grade credit ratings of BBB+, A- and Baa1 from Standard &amp; Poor&#39;s, Fitch and Moody&#39;s, respectively. This will likely enable the company to access the debt market at favorable rates.
Impressive Capital Distribution: The company is expected to keep enhancing shareholder value through efficient capital distribution.&nbsp; This month, the company announced a 5.7% rise in quarterly dividend to 37 cents per share. It has increased its dividend five times in the last five years. At present, the company has a dividend payout ratio of 40% with an annualized dividend growth rate of 8.55%.
Similarly, BAC hiked quarterly dividends by 8.3% in July to 26 cents, while CMA has kept its dividend payouts steady at 71 cents per share since February 2023.&nbsp;
In addition to dividends, the company has an impressive share repurchase plan. FITB repurchased 3.5 million of its outstanding common shares in the first half of 2024 as part of the 100-million-share repurchase plan announced on June 18, 2019. As of June 30, 2024, 28.6 million shares remain available under the authorization. Going forward, the company expects to repurchase $200 million worth of shares for each remaining quarter of 2024. Such efforts will enhance shareholder value in the long term.
<h2>Few Concerns Prevail for FITB</h2>
Mounting Expenses: Fifth Third&#39;s non-interest expense saw a five-year CAGR of 2.8%, ending 2023. In the first half of 2024, the non-interest expenses remained flat compared with the same period of last year. Higher compensation and benefits expenses, as well as initiatives, such as branch expansion and digitization, will keep the company&#39;s expense base under pressure in the short term.
Limited Loan Portfolio Diversification: The company&#39;s loan portfolio comprises majorly of commercial loans (61.6% of total portfolio loans and leases as of June 30, 2024). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Moreover, in case of any economic downturn, the asset quality of these credit categories might deteriorate. Thus, the lack of loan portfolio diversification is likely to hurt the company&#39;s financials if the economic situation worsens.
<h2>Final Words on FITB</h2>
FITB&#39;s inorganic expansion efforts and a robust balance sheet position, along with the Fed&#39;s recent rate cut, are set to support FITB&#39;s financials in the upcoming period.
<h3>Sales Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ff/78672.jpg?v=1445542711" />
Image Source: Zacks Investment Research
<h3>EPS Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/dd/78673.jpg?v=1818770512" />
Image Source: Zacks Investment Research
<h2>Unlocking Valuation</h2>
FITB stock appears expensive relative to the industry. The company is currently trading at the 12-month trailing price-to-earnings (P/E) F12M ratio of 12.49%, above the industry&#39;s 11.59%.
<h3>P/E F12M</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4f/78674.jpg?v=758532752" />
Image Source: Zacks Investment Research
Though the rising expense and lack of diversification in its loan portfolio remain near-term concerns, FITB&#39;s long-term prospects remain bright.
Considering its expensive valuation, prospective investors can keep this Zacks Rank #3 (Hold) stock on their radar and can wait for a better entry point.
<a href="https://www.zacks.com/stock/news/2339412/fitb-stock-hits-52-week-high-on-fed-rate-cut-is-it-worth-retaining?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2339412">To read this article on Zacks.com click here.</a>

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Trading Ideas

FITB Stock Hits 52-Week High on Fed Rate Cut: Is It Worth Retaining?

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) rewards shareholders by increasing its quarterly dividend. The company declared a cash dividend of 37 cents per share for third quarter 2024.&nbsp;
This reflects a 6% hike from the prior payout. The dividend will be paid out on Oct. 15, 2024, to shareholders of record as of Sep. 30, 2024.
Before the latest hike, FITB increased its dividend by 6.1% to 35 cents per share in September 2023. The company hiked its dividend five times in the past five years, with an annualized dividend growth of 8.6%.
FITB&#39;s current payout ratio is 40% of its earnings. This indicates that it retains adequate earnings for reinvestment and future growth initiatives while still delivering decent returns to shareholders.
Other finance stocks like U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) and Northrim BanCorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrim#NASDAQ">NRIM</a>) also rewarded their investors with an increase in dividends.&nbsp;
This month, USB declared a regular quarterly dividend of 50 cents per common share, marking an increase of 2% from the prior payouts. In August, NRIM hiked its dividends by 1.6%, from their prior payout of 61 cents.
<h2>Fifth Third&#39;s Share Repurchase Plan</h2>
Apart from regular quarterly dividend payouts, FITB has a share buyback program in place.
On July 22, 2024, the company initiated an accelerated share repurchase agreement with a counterparty, through which it paid $200 million on July 23 to repurchase shares of its outstanding common stock. FITB bought back shares of its common stock under the plan of the 100-million shares announced on June 18, 2019. As of June 30, 2024, 28.6 million shares remain available under the authorization. Going forward, it expects to repurchase $200 million worth of shares for each remaining quarter of 2024.
The company&#39;s focus on maintaining a strong liquidity position will support its capital distribution activities.&nbsp;
As of June 30, 2024, the company&#39;s total liquidity of $23.9 billion exceeded its total debt (comprising long-term debt and other short-term borrowings) of $19.7 billion, reflecting manageable debt levels. Its decent cash levels are likely to boost investors&#39; confidence in the stock. As of June 30, Fifth Third&#39;s common equity tier 1 ratio was 10.6%.&nbsp;
Supported by its resilient balance sheet and strong capital position, the company is expected to continue with efficient capital distribution activities.
<h2>Should Investors Consider Watching FITB?</h2>
Fifth Third has been witnessing steady organic growth. Its earnings and revenues witnessed a positive trend in the past years.
<h3>EPS Growth Trend</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/50/77923.jpg?v=852457515" />
<h3>Revenue Growth Trend</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/47/77924.jpg?v=1227192114" />
Further, FITB&#39;s near-term outlook also looks bright. At a recently-concluded Barclays conference, Fifth Third provided an update on its third-quarter outlook. The company expects total revenues to rise 2-3% sequentially in the third quarter from its baseline of $2.2 billion compared with the previous guidance of a 1-2% increase.
Supported by its resilient balance sheet and strong growth profile, the company is expected to continue with efficient capital distribution activities. Also, the latest proposed plan by the regulators will likely support its capital distribution plan.
This month, the Federal Reserve Board&#39;s vice-chair of supervision, Michael Barr, announced an outlined proposed Basel regulation which, if approved, exempts medium-sized banks&nbsp; (with between $100 billion and $250 billion in assets),&nbsp;including Fifth Third, from stringent standards of increased capital requirements.&nbsp; For these banks, the impact of the re-proposal would mainly result from the inclusion of unrealized gains and losses on their securities in regulatory capital, estimated to be equivalent to a 3-4% increase in capital requirements over the long run.&nbsp;
This new capital requirement plan will turn out to be beneficial for FITB as the amount can be utilized for increased capital distribution. Through this, Fifth Third will keep enhancing shareholders&#39; value.
FITB expects its commercial payments to be a $1-billion business in the next five years, driven by accelerated growth in its commercial payment platform through strategic partnerships.
Apart from rewarding its shareholders handsomely, FITB also has bright future prospects which make it a fundamentally strong pick.&nbsp;
In the past six months, shares of Fifth Third have surged 19.9% compared with the industry&#39;s growth of 7.5%.&nbsp;
<h3>Six-Months Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/83/77922.jpg?v=1787231019" />
Image Source: Zacks Investment Research
From a valuation standpoint, the firm appears somewhat expensive relative to the industry. The company is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 12.05X, above the industry average of 11.08X.
<h3>P/E F12M</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/37/77925.jpg?v=889747447" />
Image Source: Zacks Investment Research
Hence, investors should not rush to buy FITB stock. Instead, they should keep a close eye on this Zacks Rank #3 (Hold) stock and wait for a better entry point.
<a href="https://www.zacks.com/stock/news/2336692/is-fifth-third-bancorp-stock-worth-watching-post-a-6-dividend-hike?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2336692">To read this article on Zacks.com click here.</a>

Buybacks

Small Cap

NRIM

Is Fifth Third Bancorp Stock Worth Watching Post a 6% Dividend Hike?

WIIM

CNFR

EWBC

FCNCA

FFWM

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HSBC

IROQ

Shares of banking and financial services stocks are trading lower in possible sympathy with Ally, which fell after the company's CFO noted credit challenges among borrowers. The sector earlier reacted to Fed Vice Chair for Supervision Barr previewing Basel and GSIB surcharge re-proposals.

Fifth Third Bancorp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>) short percent of float has fallen 9.13% since its last report. The company recently reported that it has 22.15 million shares sold short, which is 3.78% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.17 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Fifth Third Bancorp Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725309014_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fifth Third Bancorp has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Fifth Third Bancorp's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Fifth Third Bancorp's peer group average for short interest as a percentage of float is 0.84%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Fifth Third Bancorp's Recent Short Interest

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $40 to $47.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $47

BBAR

CADE

HBAN

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VBFC

Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

B of A Securities analyst Ebrahim Poonawala maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Buy and raises the price target from $42 to $45.

B of A Securities Maintains Buy on Fifth Third Bancorp, Raises Price Target to $45

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $36 to $40.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $40

Argus Research analyst Stephen Biggar maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Buy and raises the price target from $42 to $46.

Argus Research Maintains Buy on Fifth Third Bancorp, Raises Price Target to $46

RBC Capital analyst Gerard Cassidy maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Outperform and raises the price target from $38 to $43.

RBC Capital Maintains Outperform on Fifth Third Bancorp, Raises Price Target to $43

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.38%. A quarter ago, it was expected that this company would post earnings of $0.71 per share when it actually produced earnings of $0.76, delivering a surprise of 7.04%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Fifth Third Bancorp, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $2.08 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.37%. This compares to year-ago revenues of $2.18 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Fifth Third Bancorp shares have added about 16.6% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.2%.
What&#39;s Next for Fifth Third Bancorp?
While Fifth Third Bancorp has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Fifth Third Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.84 on $2.16 billion in revenues for the coming quarter and $3.29 on $8.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Major Regional is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Finance sector, American Coastal Insurance (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acic#NASDAQ">ACIC</a>), has yet to report results for the quarter ended June 2024.
This property and casualty insurance company is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -53.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
American Coastal Insurance&#39;s revenues are expected to be $73.09 million, down 14.9% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2305005/fifth-third-bancorp-fitb-q2-earnings-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2305005">To read this article on Zacks.com click here.</a>

Earnings Beats

ACIC

Fifth Third Bancorp Q2 Earnings Beat Estimates

Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.85 by 1.18 percent. This is a 1.15 percent decrease over earnings of $0.87 per share from the same period last year.&nbsp;

Earnings Misses

Fifth Third Bancorp Q2 2024 Adj EPS $0.86 Beats $0.85 Estimate

General

Fifth Third Bancorp shares are trading lower following wore-than-expected Q2 financial results.

Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) reported quarterly earnings of $0.81 per share which missed the analyst consensus estimate of $0.84 by 3.57 percent. This is a 1.22 percent decrease over earnings of $0.82 per share from the same period last year. The company reported quarterly sales of $2.093 billion which missed the analyst consensus estimate of $2.113 billion by 0.94 percent. This is a 4.39 percent decrease over sales of $2.189 billion the same period last year.

Fifth Third Bancorp Q2 2024 GAAP EPS $0.81 Misses $0.84 Estimate, Sales $2.093B Miss $2.113B Estimate

Investors are always looking for stocks that are poised to beat at earnings season and Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Fifth Third is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings &mdash; with the most up-to-date information possible &mdash; is a pretty good indicator of some favorable trends underneath the surface for FITB in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 85 cents per share for FITB, compared to a broader Zacks Consensus Estimate of 84 cents per share. This suggests that analysts have very recently bumped up their estimates for FITB, giving the stock a Zacks Earnings ESP of +1.48% heading into earnings season.
<div class="chart_embed">
<h3>Fifth Third Bancorp Price and EPS Surprise</h3>
<img alt="Fifth Third Bancorp Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/30/1721306995.png" style="height:266px; width:620px" title="" />
Fifth Third Bancorp price-eps-surprise | Fifth Third Bancorp Quote
</div>
<h3>Why is this Important?</h3>
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns.
Given that FITB has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Fifth Third, and that a beat might be in the cards for the upcoming report.
<a href="https://www.zacks.com/stock/news/2304438/why-fifth-third-fitb-might-surprise-this-earnings-season?cid=CS-BENZ-FT-tale_of_the_tape|earnings_surprise-2304438">To read this article on Zacks.com click here.</a>

Why Fifth Third Might Surprise This Earnings Season

The Nasdaq 100 closed lower by around 600 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Williams-Sonoma</h3>
<ul>
<li>The Trade: Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) President and CEO Laura Alber <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $156.45. The insider received around $6.26 million from selling those shares.</li>
<li>What's Happening: On July 16, Wedbush analyst Seth Basham maintained Williams-Sonoma with an Outperform and lowered the price target from $350 to $175.</li>
<li>What Williams-Sonoma Does: With a retail and direct-to-consumer presence, Williams-Sonoma is a player in the $300 billion domestic home category and $450 billion international home market, focused on expanding its exposure in the B2B ($80 billion total addressable market), marketplace, and franchise areas.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1">latest WSM news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="683" height="751" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044337/Screenshot-2024-07-18-at-2.13.29-PM.png" alt="" class="wp-image-442482" style="width:363px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044337/Screenshot-2024-07-18-at-2.13.29-PM.png 683w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044337/Screenshot-2024-07-18-at-2.13.29-PM-273x300.png 273w" sizes="(max-width: 683px) 100vw, 683px" /></a></figure>
<h3 class="wp-block-heading">NVIDIA</h3>
<ul>
<li>The Trade: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) President and CEO Jen Hsun Huang <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 240,000 shares</a> at an average price of $127.66. The insider received around $30.64 million from selling those shares.</li>
<li>What's Happening: On July 15, TD Cowen analyst Matthew Ramsay maintained NVIDIA with a Buy rating and raised the price target from $140 to $165.</li>
<li>What NVIDIA Does: Nvidia is a leading developer of graphics processing units.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1">Benzinga Pro's charting tool</a> helped identify the trend in NVDA stock.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="686" height="746" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044441/Screenshot-2024-07-18-at-2.14.36-PM.png" alt="" class="wp-image-442483" style="width:430px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044441/Screenshot-2024-07-18-at-2.14.36-PM.png 686w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044441/Screenshot-2024-07-18-at-2.14.36-PM-276x300.png 276w" sizes="(max-width: 686px) 100vw, 686px" /></a></figure>
<h3 class="wp-block-heading">Electronic Arts</h3>
<ul>
<li>The Trade: Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) EVP, Global Affairs and CLO Jacob J. Schatz <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,000 shares</a> at an average price of $144.86. The insider received around $144,857 from selling those shares.</li>
<li>What's Happening: On July 17, Stifel analyst Drew Crum maintained Electronic Arts with a Buy and raised the price target from $163 to $165.</li>
<li>What Electronic Arts Does: EA is one of the world&#8217;s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.</li>
<li>Benzinga Pro's earnings calendar was used to track <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1">EA upcoming earnings report</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="605" height="748" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044653/Screenshot-2024-07-18-at-2.16.48-PM.png" alt="" class="wp-image-442486" style="width:427px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044653/Screenshot-2024-07-18-at-2.16.48-PM.png 605w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044653/Screenshot-2024-07-18-at-2.16.48-PM-243x300.png 243w" sizes="(max-width: 605px) 100vw, 605px" /></a></figure>
<h3 class="wp-block-heading">Fifth Third Bancorp</h3>
<ul>
<li>The Trade: Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) EVP and CIO Jude Schramm <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,500 shares</a> at an average price of $40.00. The insider received around $100,000 from selling those shares.</li>
<li>What's Happening: On July 3, Jefferies maintained Fifth Third Bancorp with a Buy and raised the price target from $42 to $43.</li>
<li>What Fifth Third Bancorp Does: Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati.</li>
<li>Insider trades for FITB were <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1">monitored using Benzinga Pro</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="619" height="736" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044752/Screenshot-2024-07-18-at-2.17.46-PM.png" alt="" class="wp-image-442487" style="width:417px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044752/Screenshot-2024-07-18-at-2.17.46-PM.png 619w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18044752/Screenshot-2024-07-18-at-2.17.46-PM-252x300.png 252w" sizes="(max-width: 619px) 100vw, 619px" /></a></figure>
Check This Out:  
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39814553/jim-cramer-says-dont-sell-match-group-youve-just-got-a-very-very-smart-investor-in-there">Cramer Says Don&#8217;t Sell Match Group: &#8216;You&#8217;ve Just Got A Very, Very Smart Investor In There</a>&#8216;</li>
</ul>

Insider Trades

Pre-Market Outlook

NVDA

Nvidia, Electronic Arts And 2 Other Stocks Insiders Are Selling

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Dividend Champion, Contender, And Challenger Highlights: Week Of September 22

RBC Capital analyst Gerard Cassidy maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report) on September 24 and set a price target o...

Fifth Third Bancorp (FITB) Receives a Buy from RBC Capital

Wells Fargo analyst Mike Mayo maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report) today and set a price target of $42.00. The c...

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13 Upcoming Dividend Increases Including 2 Kings

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Fifth Third Bancorp's Fifth Third Bank reorganizes commercial division

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Press Releases

Fifth Third Expands Free Digital Financial Education Programs for Students

Fifth Third Community Development Corp. President Susan E. Thomas Named Co-Chair of National Housing Crisis Task Force

Fifth Third Bank to Decrease Prime Lending Rate to 8.00%

Newline™ by Fifth Third Awarded Best New Embedded Finance Platform by Tearsheet

American Banker Names Bridgit Chayt to 2024 Most Powerful Women in Banking List

Fifth Third Ranked Among America's Climate Leaders 2024 by USA Today

Fifth Third Receives $50M Federal New Markets Tax Credits Allocation

American Banker Names Melissa Stevens to 2024 Most Powerful Women to Watch List

Fifth Third Named a 2024 Leading Disability Employer by the National Organization on Disability

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