Fifth Third Bancorp (NASDAQ:FITB) is reporting second quarter financial results on Thursday 23rd July 2020, before market open.
According to analysts surveyed by Thomson Reuters, FITB is expected to report 2Q20 income of $ 0.20 per share from revenue of $ 1846.01 million.
For the full year, analysts anticipate top line of $ 7572.01 million, while looking forward to income of $ 1.44 per share bottom line.
Previous Quarter Performance
Fifth Third Bancorp reported income for the first quarter of $ 0.13 per share, from the revenue of $ 1,904.00 million. The quarterly earnings fell 79.37 percent while revenues fell 12.78 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.33 per share from $ 1890.41 million in revenue. The bottom line results missed street analysts by $ 0.2 or 60.61 percent, at the same time, top line results outshined analysts by $ 13.59 million or 0.72 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of FITB was $ 19.42, representing a 74.95 % increase from the 52 week low of $ 11.10 and a 38.62 % decrease over the 52 week high of $ 31.64.
The company has a market capital of $ 13.83 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 8th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 24.00 target price.
On 2nd June 2020, maintained by Wedbush at Outperform rating, with $ 23.00 target price.
Conference Call
Fifth Third Bancorp will be hosting a conference call at 9:00 AM eastern time on 23rd July 2020, to discuss its 2Q20 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.
