Fifth Third Bancorp (FITB) Releases Earnings Results, Beats Expectations By $0.03 EPS

Fifth Third Bancorp (FITB) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.38. Analysts expectations of $1514.80 million. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Fifth Third Bancorp. Fifth Third Bancorp was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 5, 2016. Fifth Third Bancorp was Downgraded by Susquehanna to ” Neutral” on Jun 7, 2016. Company shares were Upgraded by Keefe Bruyette on May 16, 2016 to ” Outperform”, Firm has raised the Price Target to $ 20.50 from a previous price target of $19 .

Fifth Third Bancorp opened for trading at $18.65 and hit $19.01 on the upside on Thursday, eventually ending the session at $18.92, with a gain of 1.45% or 0.27 points. The heightened volatility saw the trading volume jump to 90,08,062 shares. Company has a market cap of $14,525 M.

In a different news, on Nov 25, 2015, Frank R. Forrest (EVP & Chief Risk & Credit Off) sold 6,702 shares at $20.47 per share price. According to the SEC, on Aug 25, 2015, James C. Leonard (SVP & Treasurer) sold 11,803 shares at $20.20 per share price. On Aug 18, 2015, Jewell D Hoover (director) sold 1,420 shares at $21.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Fifth Third Bancorp is a bank holding company. The Company’s subsidiary Fifth Third Bank provide a range of financial products and services to the retail commercial financial governmental educational and medical sectors and credit products such as credit cards installment loans mortgage loans and leases. The Company operates in four business segments: Commercial Banking Branch Banking Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation cash management and financial services to market businesses and Government and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1302 Banking Centers. Consumer Lending includes its mortgage home equity automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals companies and not-for-profit organizations.

Fifth Third Bancorp

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