Fifth Third Bancorp [FITB] Earnings Preview: Things to Think About

Earnings from Fifth Third Bancorp [FITB] are scheduled on April 20, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.

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FITB Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.69 per share on revenue of $1.9B. Taking a look at the future, the company is projected to report revenue of $1.91B at an earnings per share of $0.76 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 1.40% in revenue and 3.75% in earnings per share for the company.

FITB Stock Earnings Forecast For The Current Year

For the full financial year, Fifth Third Bancorp [NASDAQ:FITB] is forecasted to generate revenue of $7.67B. The figure is about $50.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $3.07 in 2021, which is $1.24 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 67.80% this year, 3.60% next year, and -2.98% annually over the next five years. With regard to sales, forecasts suggest an incline of 0.60% in current fiscal year and 1.40% over following year.

FITB Stock Price Performance

At the close of Monday’s session, Fifth Third Bancorp [NASDAQ:FITB] finished down -0.86% at $37.87. The stock’s highest single-day price was $38.50, and its lowest was $37.605. Its price fall -2.52% in the last five days. Since the beginning of the year, Fifth Third Bancorp’s shares are up nearly 37.36%. However, the share price is -6.40% below its one year high. The top price reached by the shares of the company was $40.46 on 03/18/21, while the 52-week low came on 01/04/21, when the shares were $26.83. In the past year, shares of the company have risen 127.72%. At 50 days, the moving average achieved is $36.51 while at 200 days, the moving average is $27.06. There were 5.4 million shares traded in the last session, up from 5.36 million in the previous session.

Fifth Third Bancorp [NASDAQ:FITB] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 20.73, Fifth Third Bancorp [FITB] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 13.33 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 4.81 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.74 for the industry, which means FITB offers an unattractive investment opportunity than its competitors do.

FITB Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 37.87 level, and the violation of this level will cause a further drop to 37.48 level. At the upper end, 39.27 remains a key resistance. As the stock increases, it may find resistance at 38.89. In the 14-day chart, the Relative Strength Index standing at 51.95 suggests a technical neutral stance while the MACD standing at -0.17 indicates price will decrease in the next trading period. Stochastic %K at 52.40% suggests holding the stock while Percent R indicator at 63.45% suggests low price movement.

How much is the short interest in Fifth Third Bancorp?

There have been a drop in short interest in the Fifth Third Bancorp Financial stock, with short interest down by -0.46 million shares to 9.74 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 9.28 million shares. This 4.72% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 1.48% of the overall float in the stock, while the stock’s days to cover moved to 1.11.

How do analysts view Fifth Third Bancorp?

In regard to the share price forecast for Fifth Third Bancorp stock, the analysts, as surveyed by FactSet, forecast the price to reach $43.00 in the next twelve months, representing almost an 11.93% growth from its recent price of $37.87. Among Fifth Third Bancorp stock projections, $46.00 is the highest analyst target for the stock, while $33.00 is the lowest. Despite this, 23 analysts who share their consensus rating for FITB in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/01/21, when Deutsche Bank Ratings launched coverage of the stock at “Hold” and assigned a price target of $38.0.


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