Inside Fifth Third Bancorp’s Upcoming Second Quarter Earnings Release

S&P 500 (NYSE:SPY) component Fifth Third Bancorp (NASDAQ:FITB) will unveil its latest earnings on Thursday, July 21, 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. Dodd-Frank is a Year Older but Banks Still Not Clear on Rules>>

Fifth Third Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 27 cents per share, a rise of 68.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 30 cents. Between one and three months ago, the average estimate moved down and dropped from 28 cents during the last month. For the year, analysts are projecting profit of $1.13 per share, a rise of 79.4% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported net income of 10 cents per share versus a mean estimate of profit of 27 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 8 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.48 billion in revenue this quarter, a decline of 2% from the year ago quarter. Analysts are forecasting total revenue of $5.93 billion for the year, a decline of 6.6% 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 nine rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 7.1% to $1.64 billion in first quarter. The figure fell 2% in the fourth quarter of the last fiscal year from the year earlier, dropped 3.3% in third quarter of the last fiscal year from the year-ago quarter and 53.9% in the second 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), Citigroup (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM), SunTrust Banks, Inc. (NYSE:STI), and PrivateBancorp, Inc. (NASDAQ:PVTB).

Stock Price Performance: During April 19, 2011 to July 15, 2011, the stock price had fallen $1.25 (-9.4%) from $13.30 to $12.05. 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% (+94 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% (-$1.20) over that span. Shares are down $2.50 (-17.2%) year to date.

(Source: Xignite Financials)

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