Fifth Third Bancorp (FITB - Free Report) reported $2.15 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.8%. EPS of $0.92 for the same period compares to $0.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.15 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +12.20%, with the consensus EPS estimate being $0.82.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE): 55% compared to the 56.2% average estimate based on eight analysts.
- Net interest margin (FTE): 3% versus the eight-analyst average estimate of 3%.
- Book Value Per Share: $21.19 versus the seven-analyst average estimate of $23.59.
- Return on Average Assets: 1.3% compared to the 1.1% average estimate based on seven analysts.
- Average balance - Total interest-earning assets: $192.22 billion versus $190.72 billion estimated by seven analysts on average.
- Net Charge-off (% of Average Loans): 0.4% versus the six-analyst average estimate of 0.4%.
- Tangible Book Value Per Share: $13.76 versus the six-analyst average estimate of $15.90.
- Return on average common equity: 16.3% versus the five-analyst average estimate of 13.7%.
- Tier 1 common equity Ratio: 9.8% versus 9.8% estimated by four analysts on average.
- Total nonaccrual loans and leases/Total nonaccrual portfolio loans and leases: $570 million compared to the $713.76 million average estimate based on three analysts.
- Tier I risk-based Capital Ratio: 11.1% versus 11% estimated by three analysts on average.
- Tangible common equity (including AOCI): 4.5% compared to the 5.3% average estimate based on three analysts.
View all Key Company Metrics for Fifth Third Bancorp here>>>Shares of Fifth Third Bancorp have returned -8.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Fifth Third Bancorp (FITB - Free Report) reported $2.15 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.8%. EPS of $0.92 for the same period compares to $0.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.15 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +12.20%, with the consensus EPS estimate being $0.82.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE): 55% compared to the 56.2% average estimate based on eight analysts.
- Net interest margin (FTE): 3% versus the eight-analyst average estimate of 3%.
- Book Value Per Share: $21.19 versus the seven-analyst average estimate of $23.59.
- Return on Average Assets: 1.3% compared to the 1.1% average estimate based on seven analysts.
- Average balance - Total interest-earning assets: $192.22 billion versus $190.72 billion estimated by seven analysts on average.
- Net Charge-off (% of Average Loans): 0.4% versus the six-analyst average estimate of 0.4%.
- Tangible Book Value Per Share: $13.76 versus the six-analyst average estimate of $15.90.
- Return on average common equity: 16.3% versus the five-analyst average estimate of 13.7%.
- Tier 1 common equity Ratio: 9.8% versus 9.8% estimated by four analysts on average.
- Total nonaccrual loans and leases/Total nonaccrual portfolio loans and leases: $570 million compared to the $713.76 million average estimate based on three analysts.
- Tier I risk-based Capital Ratio: 11.1% versus 11% estimated by three analysts on average.
- Tangible common equity (including AOCI): 4.5% compared to the 5.3% average estimate based on three analysts.
View all Key Company Metrics for Fifth Third Bancorp here>>>Shares of Fifth Third Bancorp have returned -8.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on FITB - FREE