For the recent quarter, FTIB grew sales 8% to $2.19B, in line with the estimate, and EPS was $0.82, slightly missing estimates of $0.83. Average deposits declined by 1% indicating a sticky deposit base, as other large banks lost deposits during the same quarter. ROEs improved to 13.9% compared to 12.3% in the same period last year. The result was okay given the challenging macro environment. Like other regional banks, FITB is an attractive acquisition target due to recent pressure in share price; FITB is now trading at 9.0x times' Forward P/E. In the last five years, FITB’s Return on Equity (ROE) has consistently been around the 13%-15% range, not excellent, but still a pretty good performance. FITB had a few years when it repurchased a significant amount of shares while paying growing and sustainable dividends over the years. We think FITB is also cheap ona Price/Book basis, currently trading at 1.3x P/B.
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Fifth Third Bancorp is a American stock, trading under the symbol FITB-Q on the NASDAQ (FITB). It is usually referred to as NASDAQ:FITB or FITB-Q
In the last year, there was no coverage of Fifth Third Bancorp published on Stockchase.
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0 stock analysts on Stockchase covered Fifth Third Bancorp In the last year. It is a trending stock that is worth watching.
On 2024-12-10, Fifth Third Bancorp (FITB-Q) stock closed at a price of $46.39.
The regional banks are about to report, and he expects down numbers.