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These Analysts Revise Their Forecasts On Fifth Third Bancorp After Q3 Results

Published 20/10/2023, 19:19
© Reuters.  These Analysts Revise Their Forecasts On Fifth Third Bancorp After Q3 Results
FITB
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Benzinga - by Lisa Levin, Benzinga Editor.

Fifth Third Bancorp (NASDAQ: FITB) reported better-than-expected earnings for its third quarter.

The company reported third-quarter 2023 sales of $2.16 billion, beating the consensus of $2.15 billion. The adjusted EPS came in at 92 cents, beating the analyst consensus of 82 cents.

The company reported an interest income increase of 44% Y/Y to $2.54 billion, with a net interest income (NII) of $1.45 billion (down 4% Y/Y).

Fifth Third Bancorp shares fell 5.5% to trade at $23.55 on Friday.

These analysts made changes to their price targets on Fifth Third Bancorp following earnings announcement.

  • Morgan Stanley raised the price target on Fifth Third Bancorp from $28 to $29. Morgan Stanley analyst Manan Gosalia maintained an Equal-Weight rating.
  • RBC Capital cut the price target on Fifth Third Bancorp from $34 to $30. RBC Capital analyst Gerard Cassidy maintained an Outperform rating on the stock.
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Latest Ratings for FITB

DateFirmActionFromTo
Jan 2022UBSInitiates Coverage OnBuy
Jan 2022BairdDowngradesOutperformNeutral
Dec 2021CitigroupMaintainsNeutral
View More Analyst Ratings for FITB

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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