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Here's What Key Metrics Tell Us About Fifth Third Bancorp (FITB) Q4 Earnings

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For the quarter ended December 2023, Fifth Third Bancorp (FITB - Free Report) reported revenue of $2.16 billion, down 6.6% over the same period last year. EPS came in at $0.99, compared to $1.04 in the year-ago quarter.

The reported revenue represents a surprise of +0.42% over the Zacks Consensus Estimate of $2.15 billion. With the consensus EPS estimate being $0.90, the EPS surprise was +10.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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): 67.2% versus 56.4% estimated by eight analysts on average.
  • Net interest margin (FTE): 2.9% compared to the 2.9% average estimate based on eight analysts.
  • Book value per share: $25.04 versus the eight-analyst average estimate of $22.70.
  • Tangible book value per share (including AOCI): $17.64 compared to the $15.10 average estimate based on seven analysts.
  • Return on average assets: 1% versus 1.1% estimated by seven analysts on average.
  • Average balance - Total interest-earning assets: $198.17 billion versus $194.02 billion estimated by seven analysts on average.
  • Net charge-off ratio (NCO ratio): 0.3% versus 0.3% estimated by six analysts on average.
  • Return on average common equity: 12.9% compared to the 13.9% average estimate based on five analysts.
  • CET1 Capital Ratio: 10.3% versus 10% estimated by four analysts on average.
  • Total nonaccrual portfolio loans and leases: $649 million versus $591.14 million estimated by three analysts on average.
  • Tier I risk-based Capital Ratio: 11.6% versus 11.3% estimated by three analysts on average.
  • Leverage Ratio: 8.7% versus the three-analyst average estimate of 8.8%.
View all Key Company Metrics for Fifth Third Bancorp here>>>

Shares of Fifth Third Bancorp have returned -3.4% over the past month versus the Zacks S&P 500 composite's +0.9% 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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