Fifth Third Bancorp (FITB) Dips More Than Broader Markets: What You Should Know

Fifth Third Bancorp (FITB) closed the most recent trading day at $25.49, moving -1.77% from the previous trading session. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.

Prior to today's trading, shares of the company had gained 4.13% over the past month. This has outpaced the Finance sector's gain of 2.29% and lagged the S&P 500's gain of 4.14% in that time.

Wall Street will be looking for positivity from Fifth Third Bancorp as it approaches its next earnings report date. This is expected to be July 20, 2023. In that report, analysts expect Fifth Third Bancorp to post earnings of $0.88 per share. This would mark year-over-year growth of 11.39%. Meanwhile, our latest consensus estimate is calling for revenue of $2.21 billion, up 9.73% from the prior-year quarter.

FITB's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $8.98 billion. These results would represent year-over-year changes of +3.58% and +7.21%, respectively.

Investors might also notice recent changes to analyst estimates for Fifth Third Bancorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Fifth Third Bancorp is currently sporting a Zacks Rank of #4 (Sell).

In terms of valuation, Fifth Third Bancorp is currently trading at a Forward P/E ratio of 7.47. Its industry sports an average Forward P/E of 7.64, so we one might conclude that Fifth Third Bancorp is trading at a discount comparatively.

Meanwhile, FITB's PEG ratio is currently 0.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.16 as of yesterday's close.

The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on

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