Fifth Third Bancorp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Fifth Third Bancorp (NASDAQ:FITB) will unveil its latest earnings on Thursday, October 20, 2011. Fifth Third Bancorp is a diversified financial services company which conducts its lending, deposit gathering, transaction processing and service advisory activities through its subsidiaries.

Fifth Third Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 33 cents per share, a rise of 50% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 29 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 33 cents during the last month. For the year, analysts are projecting net income of $1.26 per share, a rise of twofold from last year.

Last quarter, the company came in at profit of 35 cents per share against a mean estimate of net income of 28 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 17 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.49 billion in revenue this quarter, a decline of 14.4% from the year ago quarter. Analysts are forecasting total revenue of $5.96 billion for the year, a decline of 6.1% from last year’s revenue of $6.35 billion.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, one rating it as a sell and seven rating it as a hold.

A Look Back: In the second quarter, profit rose 75.5% to $337 million (35 cents a share) from $192 million (16 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 2% to $1.7 billion from $1.74 billion.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 7.1% in the first quarter from the year earlier, dropped 2% in fourth quarter of the last fiscal year from the year-ago quarter and 3.3% in the third quarter of the last fiscal year.

Competitors to Watch: Huntington Bancshares Inc. (NASDAQ:HBAN), FirstMerit Corporation (NASDAQ:FMER), Dearborn Bancorp, Inc. (NASDAQ:DEAR), Marshall & Ilsley Corp. (NYSE:MI), Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), PNC Financial Services (NYSE:PNC), JPMorgan Chase & Co. (NYSE:JPM), SunTrust Banks, Inc. (NYSE:STI), and PrivateBancorp, Inc. (NASDAQ:PVTB).

Stock Price Performance: During August 18, 2011 to October 14, 2011, the stock price had risen $1.81 (19%) from $9.53 to $11.34. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 7.8% (+93 cents) over that span. It saw one of its worst periods between February 14, 2011 and February 24, 2011 when shares fell for eight-straight days, falling 7.8% (-$1.19) over that span. Shares are down $3.09 (-21.4%) year to date.

(Source: Xignite Financials)

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