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Fifth Third Bancorp (FITB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, Fifth Third Bancorp (FITB - Free Report) reported revenue of $2.08 billion, down 4.6% over the same period last year. EPS came in at $0.86, compared to $0.87 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.11 billion, representing a surprise of -1.37%. The company delivered an EPS surprise of +2.38%, with the consensus EPS estimate being $0.84.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Book value per share: $25.13 versus $25.52 estimated by eight analysts on average.
Efficiency Ratio (FTE): 58.5% compared to the 57.7% average estimate based on eight analysts.
Net interest margin (FTE): 2.9% versus the eight-analyst average estimate of 2.9%.
Return on average assets: 1.1% versus 1.1% estimated by seven analysts on average.
Tangible book value per share (including AOCI): $17.75 versus $17.97 estimated by seven analysts on average.
Average balance - Total interest-earning assets: $194.50 billion versus $195.38 billion estimated by seven analysts on average.
Net charge-off ratio (NCO ratio): 0.5% versus the six-analyst average estimate of 0.5%.
Return on average common equity: 13.6% versus the six-analyst average estimate of 13.3%.
CET1 Capital Ratio: 10.6% compared to the 10.5% average estimate based on four analysts.
Leverage Ratio: 9.1% versus 9.1% estimated by three analysts on average.
Tier I risk-based Capital Ratio: 11.9% compared to the 11.8% average estimate based on three analysts.
Total Nonperforming Assets: $647 million versus the three-analyst average estimate of $777.26 million.
Shares of Fifth Third Bancorp have returned +12% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Fifth Third Bancorp (FITB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Fifth Third Bancorp (FITB - Free Report) reported revenue of $2.08 billion, down 4.6% over the same period last year. EPS came in at $0.86, compared to $0.87 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.11 billion, representing a surprise of -1.37%. The company delivered an EPS surprise of +2.38%, with the consensus EPS estimate being $0.84.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Book value per share: $25.13 versus $25.52 estimated by eight analysts on average.
- Efficiency Ratio (FTE): 58.5% compared to the 57.7% average estimate based on eight analysts.
- Net interest margin (FTE): 2.9% versus the eight-analyst average estimate of 2.9%.
- Return on average assets: 1.1% versus 1.1% estimated by seven analysts on average.
- Tangible book value per share (including AOCI): $17.75 versus $17.97 estimated by seven analysts on average.
- Average balance - Total interest-earning assets: $194.50 billion versus $195.38 billion estimated by seven analysts on average.
- Net charge-off ratio (NCO ratio): 0.5% versus the six-analyst average estimate of 0.5%.
- Return on average common equity: 13.6% versus the six-analyst average estimate of 13.3%.
- CET1 Capital Ratio: 10.6% compared to the 10.5% average estimate based on four analysts.
- Leverage Ratio: 9.1% versus 9.1% estimated by three analysts on average.
- Tier I risk-based Capital Ratio: 11.9% compared to the 11.8% average estimate based on three analysts.
- Total Nonperforming Assets: $647 million versus the three-analyst average estimate of $777.26 million.
View all Key Company Metrics for Fifth Third Bancorp here>>>Shares of Fifth Third Bancorp have returned +12% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.