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Fifth Third Bancorp (FITB) Gains But Lags Market: What You Should Know
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Fifth Third Bancorp (FITB - Free Report) closed at $26.18 in the latest trading session, marking a +0.85% move from the prior day. The stock lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the company had gained 2.77% over the past month, trading in line with the Finance sector and lagging the S&P 500's gain of 3.08% in that time.
Fifth Third Bancorp will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.86, up 8.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 8.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $8.9 billion. These totals would mark changes of +1.79% and +6.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Fifth Third Bancorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.87% lower within the past month. Fifth Third Bancorp is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Fifth Third Bancorp is currently trading at a Forward P/E ratio of 7.61. Its industry sports an average Forward P/E of 7.69, so we one might conclude that Fifth Third Bancorp is trading at a discount comparatively.
Investors should also note that FITB has a PEG ratio of 0.92 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Fifth Third Bancorp (FITB) Gains But Lags Market: What You Should Know
Fifth Third Bancorp (FITB - Free Report) closed at $26.18 in the latest trading session, marking a +0.85% move from the prior day. The stock lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the company had gained 2.77% over the past month, trading in line with the Finance sector and lagging the S&P 500's gain of 3.08% in that time.
Fifth Third Bancorp will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.86, up 8.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 8.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $8.9 billion. These totals would mark changes of +1.79% and +6.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Fifth Third Bancorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.87% lower within the past month. Fifth Third Bancorp is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Fifth Third Bancorp is currently trading at a Forward P/E ratio of 7.61. Its industry sports an average Forward P/E of 7.69, so we one might conclude that Fifth Third Bancorp is trading at a discount comparatively.
Investors should also note that FITB has a PEG ratio of 0.92 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.