We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fifth Third (FITB) Beats Q2 Earnings, Expenses Decline
Read MoreHide Full Article
Have you been eager to see how Fifth Third Bancorp (FITB - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
An Earnings Beat
Fifth Third came out with earnings per share of 46 cents, beating the Zacks Consensus Estimate of 42 cents. Results were aided by higher net interest income and reduced provisions.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Fifth Third depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable at 42 cents over the last 7 days.
Notably, Fifth Third has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 19.6% in the trailing four quarters.
Fifth Third posted revenues of $1.50 billion, stable year over year. The reported figure lagged the Zacks Consensus Estimate of $1.53 billion.
Key Stats:
Net income available to common shareholders decreased 13% year over year to $344 million.
Provision for loan and lease losses decreased 43% year over year to $52 million.
Net Interest Margin (taxable equivalent) came in at 3.01%, up 13 basis point year over year.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Fifth Third. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Fifth Third earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Fifth Third (FITB) Beats Q2 Earnings, Expenses Decline
Have you been eager to see how Fifth Third Bancorp (FITB - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
An Earnings Beat
Fifth Third came out with earnings per share of 46 cents, beating the Zacks Consensus Estimate of 42 cents. Results were aided by higher net interest income and reduced provisions.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Fifth Third depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable at 42 cents over the last 7 days.
Notably, Fifth Third has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 19.6% in the trailing four quarters.
Fifth Third Bancorp Price and EPS Surprise
Fifth Third Bancorp Price and EPS Surprise | Fifth Third Bancorp Quote
Lower Than Expected Revenues
Fifth Third posted revenues of $1.50 billion, stable year over year. The reported figure lagged the Zacks Consensus Estimate of $1.53 billion.
Key Stats:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Fifth Third. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Fifth Third earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>