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Fifth Third Bancorp (NASDAQ:FITB) Stock, Rapport sur les intérêts à découvert

Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.

Fifth Third Bancorp - Depositary Share repstg 1/1000th Ownership Interest Perp Pfd Series I

Fifth Third Bancorp - Depositary Shares each representing a 1/1000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series K

Fifth Third Bancorp - Depositary Shares each representing 1/40th share of Fifth Third 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A

The third-quarter earnings season for U.S. banks will officially kick off this Friday, with major financial institutions like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) set <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">to report their results. </a>
The following Tuesday will see additional earnings releases from mega-cap players such as Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), as well as some regional banks.
<h3 class="wp-block-heading">Banking Sector Performance So Far In 2024</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png" alt="" class="wp-image-587909" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chart:<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1"> Benzinga Pro</a></figcaption></figure>
Thus far, in 2024, the banking sector has shown strong performance. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major financial stocks, has risen 21% year-to-date, matching the performance of the broader market as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
However, regional banks have lagged behind their larger counterparts. The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) is up just 6% year-to-date, though it has outperformed over the past three months. This recent rebound is largely due to falling inflation and increasing expectations of Federal Reserve interest rate cuts.
With earnings season approaching, the question on many investors&#8217; minds is whether large banks will maintain their positive performance gap over regional players or if recent market developments will impact their results and outlooks. 
Here&#8217;s what Wall Street analysts are saying ahead of the bank earnings season.
<h3 class="wp-block-heading">Analyst Expectations And Top Picks</h3>
<h4 class="wp-block-heading">RBC Capital Markets – Gerard Cassidy, co-head of global financials research</h4>
&#8220;We believe the set-up looks very good for banks over the next 12-18 months. We expect the Federal Reserve to cut short-term interest rates by 200-250 basis points over this period, and the finalization of the Basel III &#8216;endgame&#8217; proposal will allow banks to return excess capital through buybacks and dividends. We continue to recommend an overweight position in bank stocks.&#8221;
<ul>
<li>Top Picks (RBC holds earnings per share estimates for both above Street consensus for the third quarter)
<ul>
<li>Truist Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)</li>
<li>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">JPMorgan Chase &amp; Co. – Anthony Elian, CFA</h4>
&#8220;As the Federal Reserve reduces rates, several industry headwinds could turn into tailwinds.&#8221; This includes:
<ol>
<li>Lower deposit costs, improving net interest margins (NIMs)</li>
<li>An uptick in commercial loan demand</li>
<li>Easing credit quality concerns, particularly for banks with commercial real estate (CRE) exposure</li>
<li>A resumption of buyback programs as reserves are released</li>
<li>Increased exit market and venture capital activity.</li>
</ol>
<ul>
<li>Top Picks:
<ul>
<li>First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>)</li>
<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</li>
<li>Pinnacle Financial Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Wedbush Securities – David J. Chiaverini, CFA</h4>
&#8220;We expect mixed trends for banks in Q3, with modest loan and deposit growth, stabilizing deposit mix shifts, and NIMs benefiting from fixed asset repricing. Some banks will be more positively positioned than others in this environment.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</li>
<li>Columbia Banking Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) Wedbush believes Columbia Banking Systems will benefit from a lower rate environment as it is liability-sensitive, unlike most banks that are asset-sensitive.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Bank of America – Ebrahim H. Poonawala</h4>
&#8220;We favor regional banks over large money centers heading into Q3, given better net interest income (NII) defensibility and greater capital relief as mark-to-market losses on bond books decrease. Our top ideas going into Q3 earnings include a mix of regionals and larger financial institutions.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</li>
<li>Western Alliance Bancorporation </li>
<li>PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</li>
<li>Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>)</li>
<li>M&amp;T Bank Corp.</li>
<li>Truist Financial Corporation</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Goldman Sachs Inc.</li>
<li>Bank of New York Mellon Corp.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Goldman Sachs – Richard Ramsden</h4>
Goldman Sachs is particularly optimistic about Citigroup heading into Q3 earnings, citing the bank's progress toward its 2024 targets driven by strong fee growth, solid capital markets activity, and robust card volumes. 
Ramsden is above consensus on Citigroup's Q3 pre-provision net revenue (PPNR), largely due to expectations of higher fees and capital markets activity.
<ul>
<li>Top Pick:
<ul>
<li>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</li>
</ul>
</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">S&amp;P 500 Earnings Season Kicks Off: Why Analysts Call This Quarter &#8216;A Stock Picker&#8217;s Paradise&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist

Insurance, regional banks, fitness centers, utilities, hospitals and theme parks are among the sectors that could be negatively impacted when Hurricane Milton hits Florida Wednesday night or <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">early </a><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Thursday </a><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">morning.</a>
Here's a look at some of the sectors and stocks that investors should be watching with Hurricane Milton on the way.
Hurricane Milton Update: According <a href="https://www.nbcnews.com/news/weather/map-hurricane-milton-path-forecast-status-track-rcna174203">to </a>NBC News, <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton was downgraded </a>to a Category 4 storm on Wednesday morning. The hurricane is expected to make landfall Wednesday night and could hit some of Florida&#8217;s most populous areas, including the Tampa Bay area.
Evacuation orders are in place for multiple Florida counties with government officials warning that failure to follow the orders could lead to casualties.
With evacuations taking place, Florida service stations are running out of gas, and there are concerns about charging electric vehicles on evacuation routes.
The constant changes in the storm's path could have a major effect on the damage and potential casualties. A landfall in the Tampa Bay area is seen as the worst-case scenario for the hurricane, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-09-24/index.html" target="_blank" rel="noopener">CNN</a>.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton Evacuations &#8216;A Matter Of Life And Death,&#8217; Biden Says: Fed&#8217;s Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months</a>
Regional Banks: DA Davidson analyst Gary Tenner looked at the regional banks that could be most impacted by Hurricane Milton in a new investor note.
"Based on experience, we would expect the banks in the market to be impacted in multiple ways in the post-hurricane period, including a potential deposit boost related to insurance settlements, elevated near term expenses and provision, with lending opportunities related to rebuilding efforts,&#8221; Tenner said.
The analyst said banks in the Tampa and St. Petersburg areas could see near-term increased expenses but could see "positive offsets over the longer term."
Based on market share in the region, Tenner highlights the following regional banks:
<ul>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>): Buy rating</li>
<li>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>): Neutral rating</li>
<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>): Buy rating</li>
<li>SouthState Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>): Buy rating</li>
<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>): Buy rating</li>
<li>Hancock Whitney Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>): Buy rating</li>
</ul>
Hospitals Impact: Hospital operators in the Florida region could be negatively impacted by Hurricane Milton and face IV shortages, RBC analyst Ben Hendrix said in a new investor note.
"Hospital operators traded slightly lower on Thursday, which we believe reflects at least in part weather-related concerns as Hurricane Milton moves toward Florida's west coast," Hendrix said.
The analyst said hospitals could see "some disruptions to facilities" in the coming days.
RBC highlights the following hospitals in the report:
<ul>
<li>Community Health Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>): Outperform rating</li>
<li>HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>): Outperform rating</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>): Outperform rating</li>
<li>Universal Health Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>): Sector Perform rating</li>
</ul>
"We believe HCA may be spared the worst of the storm damage with most of its hospital concentration in Central Florida located in the Tampa Bay area, which is north of the expected Sarasota landfall," Hendrix said.
Utilities Impact: Hurricane Milton could have a negative impact on utility stocks, Scotiabank analyst Andrew Weisel warned investors in a new note.
"While we remain bullish on U.S. utility fundamentals and valuations, we're growing somewhat cautious about investor sentiment, which had finally started to turn positive after years of negativity or indifference," Weisel said.
The analyst said they generally caution against trading around storms like Hurricane Milton.
"Rising hurricane activity is no doubt worrisome."
Weisel said the utility sector has several catalysts like rate cuts and the 2024 election, aside from the hurricane impact.
Top utility picks from Weisel are CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) and DTE Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>). After these three top picks, the analyst highlights Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) and American Electric Power Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) as other favorable utility names. 
Weisel also said he would buy Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) because of its weakness ahead of Hurricane Milton.
"While outages often lead to lost revenues, slightly weighing on near-term earnings, the impacts are generally very modest," Weisel said.
Another major utility that could be impacted by Hurricane Milton is Tampa Electric, owned by Emera Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>). Serving the Tampa Bay area, Tampa Electric is particularly vulnerable to the storm&#8217;s effects.
Insurance Stocks: The insurance sector is one of the sectors most on watch for the damaging impact and cleanup aftermath from Hurricane Milton.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) are among the large insurers that could be impacted.
RBC analyst Derald Goh, who covers European insurance stocks, shared a note on the potential damage from the hurricane.
"A potential $60bn industry loss from Hurricane Milton appears very manageable for a sector that is keen to demonstrate stronger earnings resiliency and should drive a re-rating," Goh said.
The $60 billion estimate comes as Hurricane Milton is expected to cause destruction similar to that caused by Hurricane Ian in 2022. Based on the estimated damage from that storm, the analyst considers this estimate the most reliable method for predicting the impact on insurance companies.
Goh said five hurricanes have made landfall in the U.S. this season, and the previous average forecast was 12.
Leisure Sector: Hurricane Milton could also impact theme parks, with the state of Florida home to Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and Universal Studios Orlando, owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Disney announced it is <a href="https://www.benzinga.com/markets/equities/24/10/41245886/disney-world-closes-early-as-hurricane-milton-approaches-florida-parks-brace-for-impact">closing Disney World parks early </a>on Wednesday and transportation services could remain limited, with a plan to re-open on Thursday. The storm may have scared away a large amount of tourists. Goldman Sachs recently said Disney could see a<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac"> $150 million to $200 million</a> negative impact from Hurricane Milton.
Morgan Stanley analyst Megan Alexander sees Hurricane Milton having a negative impact on fitness centers Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) and Life Time Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) and indoor golf facility company Topgolf Callaway Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MODG#NYSE">MODG</a>).
"Overall, PLNT appears to be the most exposed across our coverage particularly given the concentration of corporate locations in the state," Alexander said.
The analyst, who has an Overweight rating and a $84 price target on Planet Fitness, said Florida represents around 25% of corporate-owned locations. Store closures could negatively impact new membership additions, but Alexander added that the monthly membership fee revenue model could insulate the company from a negative impact.
The analyst sees Life Time Group, rated Equal Weight with a $21 price target, having a minimal impact with only five locations in Florida, which is less than 3% of total locations.
Alexander said Topgolf has nine locations in Florida, with five currently closed due to Hurricane Milton. The analyst, who has an Underweight rating and a $10 price target on the stock, said Topgolf will likely see a minimal impact unless locations have severe storm damage and have to be closed for an extended time period.  
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a></li>
</ul>
Image of Hurricane Milton courtesy of NASA.

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Hurricane Milton Descends On Florida: Analysts Warn Of Impact On Disney, NextEra's Florida Power & Light, Regional Banks

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and <a href="https://www.benzinga.com/topic/banks">their impact on bank valuations. </a>
Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks. They predict that a soft-landing scenario could trigger a rebound in customer activity, improve loan growth, and positively drive higher price-to-earnings (P/E) multiples for the sector. However, macro uncertainties, including Fed policy shifts and the upcoming U.S. elections, temper the enthusiasm.
Bank of America equity analyst Ebrahim H. Poonawala highlighted in a note Monday that rate cuts could be &#8220;structurally bullish&#8221; for bank earnings per share (EPS) outlooks and stock P/E multiples. A softer rate environment is expected to reinvigorate customer activity, particularly in investment banking, mortgage lending, and loan growth.
However, lower interest rates are expected to negatively impact &#8220;asset-sensitive banks&#8221; as loan yields will drop.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This &#8216;Positive Catalyst&#8217; Could Be More Important</a>
<h3 class="wp-block-heading">Political Risks Loom Large Ahead of Elections</h3>
The upcoming U.S. election adds an additional layer of uncertainty for banks. 
&#8220;A&nbsp;Trump win is likely seen as positive for relief on the regulatory/M&amp;A fronts.&nbsp;Democratic sweep likely most negative outcome for the sector given potential for higher taxes, more of the same (or worse) on regulatory changes,&#8221; analysts wrote.
While current valuations appear cautiously optimistic about a soft landing, political outcomes could trigger volatile movements in the sector. A Trump win would likely lead to a &#8220;knee-jerk&#8221; positive reaction in bank stocks, while a Democratic win could weigh on sentiment.
<h3 class="wp-block-heading">Regional Banks Preferred Over Money Center Banks</h3>
For the third quarter of 2024, the investment bank favored regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), over large money center banks, citing &#8220;better defensibility of net interest income (NII).&#8221;
Regionals have greater flexibility with deposits, better hedging strategies, and more potential for capital relief as mark-to-market losses on bond books decline. 
Key picks include U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), Fifth Third (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), and Truist Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>).
First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is seen as the &#8220;best positioned to navigate current rate expectations,&#8221; while Texas Capital Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is the most impacted.
On Monday, Bank of America also downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from &#8220;Neutral&#8221; to &#8220;Underperform,&#8221; reducing the price target from $55 to $52. Analyst Brandon Berman highlighted that the positive rate trade underpinning Comerica &#8220;has run its course,&#8221; and the stock now trades above the high end of its historical range, not reflecting the risk of downward earnings revisions.
Looking ahead, Friday, Oct. 11, will see key earnings reports from JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNY#NYSE">BNY</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Will Kamala Harris&#8217;s Media Blitz, Including &#8217;60 Minutes&#8217; And &#8216;Call Her Daddy,&#8217; Improve Her 2024 Election Prospects?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Broad U.S. Equity ETFs

Federal Reserve

TCBI

US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks

In the last three months, 7 analysts have published ratings on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), offering a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Fifth Third Bancorp, revealing an average target of $45.57, a high estimate of $51.00, and a low estimate of $40.00. This current average has increased by 9.62% from the previous average price target of $41.57. 
<img src="https://www.benzinga.com/files/images/story/2024/1727881228_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Fifth Third Bancorp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Biggar</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fifth Third Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fifth Third Bancorp compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Fifth Third Bancorp's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fifth Third Bancorp's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FITB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fifth Third Bancorp analyst ratings.</a>
<h2>Discovering Fifth Third Bancorp: A Closer Look</h2>
Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
<h3>Breaking Down Fifth Third Bancorp's Financial Performance</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Decline in Revenue: Over the 3 months period, Fifth Third Bancorp faced challenges, resulting in a decline of approximately -3.02% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Fifth Third Bancorp's net margin is impressive, surpassing industry averages. With a net margin of 27.69%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Fifth Third Bancorp's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.3%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Fifth Third Bancorp's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.26%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.13.
<h2>What Are Analyst Ratings?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 7 Ratings For Fifth Third Bancorp

Evercore ISI Group analyst John Pancari maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a In-Line and raises the price target from $46 to $47.

Evercore ISI Group Maintains In-Line on Fifth Third Bancorp, Raises Price Target to $47

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $47 to $51.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $51

Fifth Third Receives $50M Allocation In Federal New Markets Tax Credits From U.S. Treasury's $5B Fund, One Of 104 Entities To Receive Award

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) shares touched a 52-week high of $43.85 on Thursday following the Federal Reserve&#39;s announcement of a 50-basis points interest rate cut.
The FITB stock closed slightly lower at $43.64, gaining nearly 18% over the past six months. It has outperformed its industry, the S&amp;P 500 Index and its close peers like Comerica Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>) and Bank of America Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) in the same time frame.
<h3>Six-Month Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/78671.jpg?v=1259988145" />
Image Source: Zacks Investment Research
<h2>Key Drivers Behind FITB Stock&#39;s New 52-Week High</h2>
A major factor for this upward movement of FITB stock can be attributed to the Federal Reserve&#39;s aggressive start to monetary policy easing.
On Wednesday, the central bank signaled two additional rate cuts this year to support the economy. Fed officials further indicated plans for four more cuts in 2025 and two in 2026.
The interest rate cut is a positive development for banks, including Fifth Third, CMA and BAC, which have been struggling with rising funding cost pressures. While higher rates have led to a significant jump in banks&#39; net interest income (NII) the same led to increased funding costs, which squeezed margins.
FITB&#39;s NII has witnessed a three-year (2020-2023) compound annual growth rate of 6.8%. However, the company&#39;s NII declined in the first half of 2024 due to higher funding costs.
So now that the Fed has cut the rates, funding costs will gradually stabilize and eventually start declining, thus supporting FITB&#39;s NII.
<h2>Other Factors Supporting FITB&#39;s Performance</h2>
Raised Guidance: At the Barclays Global Financial Services Conference, FITB raised its third-quarter 2024 outlook. The bank stated that total revenues are now expected to rise 2-3% sequentially in the third quarter from its baseline of $2.2 billion compared with the previous guidance of a 1-2% increase. Also, management updated its non-interest income, now expecting a 3-4% increase from its baseline of $717 million, up from the earlier projection of a 1-2% rise.
Strategic Collaborations: The company has been expanding its embedded payments platform on the back of strategic partnerships, positioning itself for substantial growth in the commercial payments space. Fifth Third&#39;s embedded payments platform, Newline, entered into a collaborative agreement with Trustly in September. This collaboration aims to develop its pay-by-bank arrangements and payments made through the Automated Clearing House&nbsp;and Real Time Payments networks.
In July, the bank announced a collaborative agreement between its embedded payments arm, Newline, and Stripe, a financial infrastructure platform, to expand embedded financial services offerings.
In May 2024, in collaboration with Bottomline, Fifth Third launched Enhanced Payables &mdash; a new payment platform powered by the latter&#39;s business payments network, Paymode-X. This partnership offers customers access to a wide range of payment options, including invoice automation, virtual card payments, premium ACH payments, standard ACH payments, check payments and business-to-consumer payments.
Through such strategic collaborations, the bank anticipates commercial payments to be a $1 billion business in the next five years. This will eventually boost the company&#39;s non-interest income growth over time.
Balance Sheet: The bank has a strong liquidity position. As of June 30, 2024, the company had a total debt (long-term debt and other short-term borrowings) of $19.7 billion and total liquidity (cash and due from banks and other short-term investments) of $23.9 billion. The company&#39;s senior debt enjoyed investment-grade credit ratings of BBB+, A- and Baa1 from Standard &amp; Poor&#39;s, Fitch and Moody&#39;s, respectively. This will likely enable the company to access the debt market at favorable rates.
Impressive Capital Distribution: The company is expected to keep enhancing shareholder value through efficient capital distribution.&nbsp; This month, the company announced a 5.7% rise in quarterly dividend to 37 cents per share. It has increased its dividend five times in the last five years. At present, the company has a dividend payout ratio of 40% with an annualized dividend growth rate of 8.55%.
Similarly, BAC hiked quarterly dividends by 8.3% in July to 26 cents, while CMA has kept its dividend payouts steady at 71 cents per share since February 2023.&nbsp;
In addition to dividends, the company has an impressive share repurchase plan. FITB repurchased 3.5 million of its outstanding common shares in the first half of 2024 as part of the 100-million-share repurchase plan announced on June 18, 2019. As of June 30, 2024, 28.6 million shares remain available under the authorization. Going forward, the company expects to repurchase $200 million worth of shares for each remaining quarter of 2024. Such efforts will enhance shareholder value in the long term.
<h2>Few Concerns Prevail for FITB</h2>
Mounting Expenses: Fifth Third&#39;s non-interest expense saw a five-year CAGR of 2.8%, ending 2023. In the first half of 2024, the non-interest expenses remained flat compared with the same period of last year. Higher compensation and benefits expenses, as well as initiatives, such as branch expansion and digitization, will keep the company&#39;s expense base under pressure in the short term.
Limited Loan Portfolio Diversification: The company&#39;s loan portfolio comprises majorly of commercial loans (61.6% of total portfolio loans and leases as of June 30, 2024). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Moreover, in case of any economic downturn, the asset quality of these credit categories might deteriorate. Thus, the lack of loan portfolio diversification is likely to hurt the company&#39;s financials if the economic situation worsens.
<h2>Final Words on FITB</h2>
FITB&#39;s inorganic expansion efforts and a robust balance sheet position, along with the Fed&#39;s recent rate cut, are set to support FITB&#39;s financials in the upcoming period.
<h3>Sales Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ff/78672.jpg?v=1445542711" />
Image Source: Zacks Investment Research
<h3>EPS Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/dd/78673.jpg?v=1818770512" />
Image Source: Zacks Investment Research
<h2>Unlocking Valuation</h2>
FITB stock appears expensive relative to the industry. The company is currently trading at the 12-month trailing price-to-earnings (P/E) F12M ratio of 12.49%, above the industry&#39;s 11.59%.
<h3>P/E F12M</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4f/78674.jpg?v=758532752" />
Image Source: Zacks Investment Research
Though the rising expense and lack of diversification in its loan portfolio remain near-term concerns, FITB&#39;s long-term prospects remain bright.
Considering its expensive valuation, prospective investors can keep this Zacks Rank #3 (Hold) stock on their radar and can wait for a better entry point.
<a href="https://www.zacks.com/stock/news/2339412/fitb-stock-hits-52-week-high-on-fed-rate-cut-is-it-worth-retaining?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2339412">To read this article on Zacks.com click here.</a>

Guidance

Dividends

FITB Stock Hits 52-Week High on Fed Rate Cut: Is It Worth Retaining?

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) rewards shareholders by increasing its quarterly dividend. The company declared a cash dividend of 37 cents per share for third quarter 2024.&nbsp;
This reflects a 6% hike from the prior payout. The dividend will be paid out on Oct. 15, 2024, to shareholders of record as of Sep. 30, 2024.
Before the latest hike, FITB increased its dividend by 6.1% to 35 cents per share in September 2023. The company hiked its dividend five times in the past five years, with an annualized dividend growth of 8.6%.
FITB&#39;s current payout ratio is 40% of its earnings. This indicates that it retains adequate earnings for reinvestment and future growth initiatives while still delivering decent returns to shareholders.
Other finance stocks like U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) and Northrim BanCorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrim#NASDAQ">NRIM</a>) also rewarded their investors with an increase in dividends.&nbsp;
This month, USB declared a regular quarterly dividend of 50 cents per common share, marking an increase of 2% from the prior payouts. In August, NRIM hiked its dividends by 1.6%, from their prior payout of 61 cents.
<h2>Fifth Third&#39;s Share Repurchase Plan</h2>
Apart from regular quarterly dividend payouts, FITB has a share buyback program in place.
On July 22, 2024, the company initiated an accelerated share repurchase agreement with a counterparty, through which it paid $200 million on July 23 to repurchase shares of its outstanding common stock. FITB bought back shares of its common stock under the plan of the 100-million shares announced on June 18, 2019. As of June 30, 2024, 28.6 million shares remain available under the authorization. Going forward, it expects to repurchase $200 million worth of shares for each remaining quarter of 2024.
The company&#39;s focus on maintaining a strong liquidity position will support its capital distribution activities.&nbsp;
As of June 30, 2024, the company&#39;s total liquidity of $23.9 billion exceeded its total debt (comprising long-term debt and other short-term borrowings) of $19.7 billion, reflecting manageable debt levels. Its decent cash levels are likely to boost investors&#39; confidence in the stock. As of June 30, Fifth Third&#39;s common equity tier 1 ratio was 10.6%.&nbsp;
Supported by its resilient balance sheet and strong capital position, the company is expected to continue with efficient capital distribution activities.
<h2>Should Investors Consider Watching FITB?</h2>
Fifth Third has been witnessing steady organic growth. Its earnings and revenues witnessed a positive trend in the past years.
<h3>EPS Growth Trend</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/50/77923.jpg?v=852457515" />
<h3>Revenue Growth Trend</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/47/77924.jpg?v=1227192114" />
Further, FITB&#39;s near-term outlook also looks bright. At a recently-concluded Barclays conference, Fifth Third provided an update on its third-quarter outlook. The company expects total revenues to rise 2-3% sequentially in the third quarter from its baseline of $2.2 billion compared with the previous guidance of a 1-2% increase.
Supported by its resilient balance sheet and strong growth profile, the company is expected to continue with efficient capital distribution activities. Also, the latest proposed plan by the regulators will likely support its capital distribution plan.
This month, the Federal Reserve Board&#39;s vice-chair of supervision, Michael Barr, announced an outlined proposed Basel regulation which, if approved, exempts medium-sized banks&nbsp; (with between $100 billion and $250 billion in assets),&nbsp;including Fifth Third, from stringent standards of increased capital requirements.&nbsp; For these banks, the impact of the re-proposal would mainly result from the inclusion of unrealized gains and losses on their securities in regulatory capital, estimated to be equivalent to a 3-4% increase in capital requirements over the long run.&nbsp;
This new capital requirement plan will turn out to be beneficial for FITB as the amount can be utilized for increased capital distribution. Through this, Fifth Third will keep enhancing shareholders&#39; value.
FITB expects its commercial payments to be a $1-billion business in the next five years, driven by accelerated growth in its commercial payment platform through strategic partnerships.
Apart from rewarding its shareholders handsomely, FITB also has bright future prospects which make it a fundamentally strong pick.&nbsp;
In the past six months, shares of Fifth Third have surged 19.9% compared with the industry&#39;s growth of 7.5%.&nbsp;
<h3>Six-Months Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/83/77922.jpg?v=1787231019" />
Image Source: Zacks Investment Research
From a valuation standpoint, the firm appears somewhat expensive relative to the industry. The company is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 12.05X, above the industry average of 11.08X.
<h3>P/E F12M</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/37/77925.jpg?v=889747447" />
Image Source: Zacks Investment Research
Hence, investors should not rush to buy FITB stock. Instead, they should keep a close eye on this Zacks Rank #3 (Hold) stock and wait for a better entry point.
<a href="https://www.zacks.com/stock/news/2336692/is-fifth-third-bancorp-stock-worth-watching-post-a-6-dividend-hike?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2336692">To read this article on Zacks.com click here.</a>

Buybacks

NRIM

Is Fifth Third Bancorp Stock Worth Watching Post a 6% Dividend Hike?

WIIM

CNFR

EWBC

FFWM

FNWD

HSBC

IROQ

Shares of banking and financial services stocks are trading lower in possible sympathy with Ally, which fell after the company's CFO noted credit challenges among borrowers. The sector earlier reacted to Fed Vice Chair for Supervision Barr previewing Basel and GSIB surcharge re-proposals.

Fifth Third Bancorp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>) short percent of float has fallen 9.13% since its last report. The company recently reported that it has 22.15 million shares sold short, which is 3.78% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.17 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Fifth Third Bancorp Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725309014_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fifth Third Bancorp has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Fifth Third Bancorp's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Fifth Third Bancorp's peer group average for short interest as a percentage of float is 0.84%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Fifth Third Bancorp's Recent Short Interest

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $40 to $47.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $47

BBAR

HBAN

HMNF

MUFG

VBFC

Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

B of A Securities analyst Ebrahim Poonawala maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Buy and raises the price target from $42 to $45.

B of A Securities Maintains Buy on Fifth Third Bancorp, Raises Price Target to $45

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $36 to $40.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $40

Argus Research analyst Stephen Biggar maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Buy and raises the price target from $42 to $46.

Argus Research Maintains Buy on Fifth Third Bancorp, Raises Price Target to $46

RBC Capital analyst Gerard Cassidy maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Outperform and raises the price target from $38 to $43.

RBC Capital Maintains Outperform on Fifth Third Bancorp, Raises Price Target to $43

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2.38%. A quarter ago, it was expected that this company would post earnings of $0.71 per share when it actually produced earnings of $0.76, delivering a surprise of 7.04%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Fifth Third Bancorp, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $2.08 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.37%. This compares to year-ago revenues of $2.18 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Fifth Third Bancorp shares have added about 16.6% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.2%.
What&#39;s Next for Fifth Third Bancorp?
While Fifth Third Bancorp has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Fifth Third Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.84 on $2.16 billion in revenues for the coming quarter and $3.29 on $8.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Major Regional is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Finance sector, American Coastal Insurance (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acic#NASDAQ">ACIC</a>), has yet to report results for the quarter ended June 2024.
This property and casualty insurance company is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -53.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
American Coastal Insurance&#39;s revenues are expected to be $73.09 million, down 14.9% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2305005/fifth-third-bancorp-fitb-q2-earnings-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2305005">To read this article on Zacks.com click here.</a>

Earnings Beats

ACIC

Fifth Third Bancorp Q2 Earnings Beat Estimates

Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.85 by 1.18 percent. This is a 1.15 percent decrease over earnings of $0.87 per share from the same period last year.&nbsp;

Earnings Misses

Fifth Third Bancorp Q2 2024 Adj EPS $0.86 Beats $0.85 Estimate

General

Fifth Third Bancorp shares are trading lower following wore-than-expected Q2 financial results.

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Press Releases

Fifth Third Community Development Corp. President Susan E. Thomas Named Co-Chair of National Housing Crisis Task Force

Fifth Third Bank to Decrease Prime Lending Rate to 8.00%

Newline™ by Fifth Third Awarded Best New Embedded Finance Platform by Tearsheet

American Banker Names Bridgit Chayt to 2024 Most Powerful Women in Banking List

Fifth Third Ranked Among America's Climate Leaders 2024 by USA Today

Fifth Third Receives $50M Federal New Markets Tax Credits Allocation

American Banker Names Melissa Stevens to 2024 Most Powerful Women to Watch List

Fifth Third Named a 2024 Leading Disability Employer by the National Organization on Disability

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