This summary was created by AI, based on 2 opinions in the last 12 months.
Fifth Third Bancorp (FITB-Q) recently reported quarterly results that showed growth in sales and an improvement in ROEs. The challenging macro environment did impact the EPS slightly, but overall the result was considered okay. The company is also seen as an attractive acquisition target due to recent share price pressure and is currently trading at a relatively low Forward P/E ratio. The consistent performance in ROE, share repurchases, and sustainable dividends over the years also make FITB an interesting stock to consider.
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, 3 stock analysts published opinions about FITB-Q. 2 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Fifth Third Bancorp.
Fifth Third Bancorp was recommended as a Top Pick by on . Read the latest stock experts ratings for Fifth Third Bancorp.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
3 stock analysts on Stockchase covered Fifth Third Bancorp In the last year. It is a trending stock that is worth watching.
On 2024-03-28, Fifth Third Bancorp (FITB-Q) stock closed at a price of $37.2.
The regional banks are about to report, and he expects down numbers.