In its upcoming report, Fifth Third Bancorp (FITB) is predicted by Wall Street analysts to post quarterly earnings of $1.01 per share, reflecting an increase of 12.2% compared to the same period last year. Revenues are forecasted to be $2.33 billion, representing a year-over-year increase of 7.3%.
The current level reflects a downward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship 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.
The consensus among analysts is that 'Efficiency Ratio (FTE)' will reach 54.5%. The estimate compares to the year-ago value of 54.7%.
Based on the collective assessment of analysts, 'Book value per share' should arrive at $30.09 . The estimate is in contrast to the year-ago figure of $26.17 .
Analysts expect 'Tangible book value per share (including AOCI)' to come in at $22.31 . The estimate compares to the year-ago value of $18.69 .
According to the collective judgment of analysts, 'Average balance - Total interest-earning assets' should come in at $194.87 billion. Compared to the current estimate, the company reported $193.51 billion in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Return on average common equity' will likely reach 13.0%. Compared to the present estimate, the company reported 13.0% in the same quarter last year.
Analysts' assessment points toward 'Leverage Ratio' reaching 9.4%. Compared to the present estimate, the company reported 9.2% in the same quarter last year.
It is projected by analysts that the 'CET1 Capital Ratio' will reach 10.6%. Compared to the current estimate, the company reported 10.5% in the same quarter of the previous year.
The average prediction of analysts places 'Tier 1 risk-based Capital Ratio' at 11.7%. The estimate compares to the year-ago value of 11.8%.
The consensus estimate for 'Total risk-based Capital Ratio' stands at 13.7%. The estimate is in contrast to the year-ago figure of 13.8%.
Analysts predict that the 'Total nonperforming assets' will reach $843.25 million. The estimate is in contrast to the year-ago figure of $860.00 million.
Analysts forecast 'Total nonaccrual portfolio loans and leases' to reach $832.25 million. Compared to the present estimate, the company reported $823.00 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Tangible common equity (including AOCI)' of 7.5%. Compared to the present estimate, the company reported 6.0% in the same quarter last year.
View all Key Company Metrics for Fifth Third Bancorp here>>>
Over the past month, shares of Fifth Third Bancorp have returned +1.1% versus the Zacks S&P 500 composite's +2.1% change. Currently, FITB carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market 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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