In its upcoming report, Fifth Third Bancorp (FITB) is predicted by Wall Street analysts to post quarterly earnings of $0.87 per share, reflecting an increase of 1.2% compared to the same period last year. Revenues are forecasted to be $2.21 billion, representing a year-over-year increase of 6.4%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Fifth Third Bancorp metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Efficiency Ratio (FTE)' will reach 56.1%. The estimate compares to the year-ago value of 58.5%.
Analysts expect 'Book value per share' to come in at $28.30 . Compared to the present estimate, the company reported $25.13 in the same quarter last year.
Analysts predict that the 'Tangible book value per share (including AOCI)' will reach $20.54 . The estimate is in contrast to the year-ago figure of $17.75 .
The average prediction of analysts places 'Average balance - Total interest-earning assets' at $194.67 billion. Compared to the present estimate, the company reported $194.50 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Return on average common equity' will likely reach 12.5%. The estimate is in contrast to the year-ago figure of 13.6%.
The collective assessment of analysts points to an estimated 'CET1 Capital Ratio' of 10.6%. The estimate compares to the year-ago value of 10.6%.
Based on the collective assessment of analysts, 'Leverage Ratio' should arrive at 9.3%. Compared to the current estimate, the company reported 9.1% in the same quarter of the previous year.
The consensus estimate for 'Tier 1 risk-based Capital Ratio' stands at 11.9%. The estimate is in contrast to the year-ago figure of 11.9%.
Analysts forecast 'Total Nonperforming Assets' to reach $920.67 million. The estimate is in contrast to the year-ago figure of $647.00 million.
The consensus among analysts is that 'Total nonaccrual portfolio loans and leases' will reach $818.33 million. The estimate is in contrast to the year-ago figure of $606.00 million.
Analysts' assessment points toward 'Total risk-based Capital Ratio' reaching 13.9%. Compared to the current estimate, the company reported 13.9% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Tangible common equity (including AOCI)' should come in at 7.2%. The estimate compares to the year-ago value of 5.8%.
View all Key Company Metrics for Fifth Third Bancorp here>>>
Shares of Fifth Third Bancorp have demonstrated returns of +15.2% over the past month compared to the Zacks S&P 500 composite's +4% change. With a Zacks Rank #3 (Hold), FITB is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Fifth Third Bancorp (FITB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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