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Compared to Estimates, Fifth Third Bancorp (FITB) Q3 Earnings: A Look at Key Metrics
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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.
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.
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Compared to Estimates, Fifth Third Bancorp (FITB) Q3 Earnings: A Look at Key Metrics
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.