These Analysts Revise Their Forecasts On Fifth Third Bancorp After Q3 Results
Portfolio Pulse from Lisa Levin
Fifth Third Bancorp (NASDAQ:FITB) reported Q3 2023 sales of $2.16 billion, beating the consensus of $2.15 billion, and an adjusted EPS of 92 cents, beating the analyst consensus of 82 cents. The company also reported a 44% Y/Y increase in interest income to $2.54 billion, with a net interest income (NII) of $1.45 billion (down 4% Y/Y). Following the earnings announcement, Morgan Stanley raised the price target on Fifth Third Bancorp from $28 to $29, while RBC Capital cut the price target from $34 to $30.
October 20, 2023 | 6:19 pm
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Fifth Third Bancorp reported better-than-expected Q3 results, leading to revised price targets by Morgan Stanley and RBC Capital. Despite the positive earnings, the company's shares fell 5.5%.
Fifth Third Bancorp reported strong Q3 results, beating both sales and EPS estimates. This led to revised price targets by analysts. However, despite the positive earnings report, the company's shares fell 5.5%, indicating that other factors may be influencing the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100