Fifth Third Bancorp (NASDAQ:FITB) is set to announce third quarter earning results on Thursday 22nd October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, FITB to report 3Q20 income of $ 0.60 per share.
For the full year, analysts anticipate top line of $ 7559.07 million, while looking forward to income of $ 1.56 per share bottom line.
Previous Quarter Performance
Fifth Third Bancorp communicated income for the second quarter of $ 0.30 per share, from the revenue of $ 1,853.00 million. The quarterly earnings shrunk 57.75 percent while revenues declined 2.73 percent compared with the same quarter last year.
Wall street analysts are predicting, FITB to report 2Q20 income of $ 0.20 per share from revenue of $ 1846.01 million. The bottom line results beat street analysts by $ 0.1 or 50.00 percent, at the same time, top line results outshined analysts by $ 6.99 million or 0.38 percent.
Stock Performance
Shares of Fifth Third Bancorp traded low $ -0.04 or -0.17 percent on Wednesday, reaching $ 23.71 with volume of 3.31 million shares. The stock opened down for the day at $ 23.64, after closing the previous day trading at $ 23.75.
According to the previous trading day, closing price of $ 23.75, representing a 113.96 % increase from the 52 week low of $ 11.10 and a 24.94 % decrease over the 52 week high of $ 31.64.
The company has a market capital of $ 16.89 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 25th September 2020, upgraded by Morgan Stanley to Overweight from Equal-Weight rating.
Conference Call
Fifth Third Bancorp will be hosting a conference call at 9:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.53.com
Fifth Third Bancorp operates as a diversified financial services company in the United States. The companys Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. Its Branch Banking segment provides a range of deposit and loan products to individuals and small businesses.
