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FITB

Fifth Third Bancorp NasdaqGS:FITB Stock Report

Last Price

US$34.10

Market Cap

US$23.4b

7D

4.8%

1Y

-22.0%

Updated

05 Oct, 2022

Data

Company Financials +
FITB fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance2/6
Financial Health6/6
Dividends5/6

FITB Stock Overview

Fifth Third Bancorp operates as a diversified financial services company in the United States.

Fifth Third Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fifth Third Bancorp
Historical stock prices
Current Share PriceUS$34.10
52 Week HighUS$50.64
52 Week LowUS$31.18
Beta1.26
1 Month Change1.28%
3 Month Change0.53%
1 Year Change-22.04%
3 Year Change32.92%
5 Year Change20.67%
Change since IPO609.44%

Recent News & Updates

Sep 20

Fifth Third launches mortgage warehouse finance business

Fifth Third Bancorp (NASDAQ:FITB) unit Fifth Third Bank, National Association, is launching mortgage warehouse finance business to support the needs of independent mortgage bankers. Warehouse lending is a commercial financing arrangement between banks and non-depository mortgage lenders. Under the arrangement, loans are held in a warehouse from the time of funding on the facility until they are sold. Source: Press Release

Sep 12

Fifth Third Bancorp raises quarterly dividend by 10%

Fifth Third Bancorp (NASDAQ:FITB) declared $0.33/share quarterly dividend, 10% increase from prior dividend of $0.30. Forward yield 3.63% Payable Oct. 17; for shareholders of record Sept. 30; ex-div Sept. 29. See FITB Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

FITBUS BanksUS Market
7D4.8%6.3%4.4%
1Y-22.0%-21.8%-18.2%

Return vs Industry: FITB matched the US Banks industry which returned -21.8% over the past year.

Return vs Market: FITB underperformed the US Market which returned -18.2% over the past year.

Price Volatility

Is FITB's price volatile compared to industry and market?
FITB volatility
FITB Average Weekly Movement4.6%
Banks Industry Average Movement3.5%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: FITB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FITB's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
185819,119Tim Spencehttps://www.53.com

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company’s Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. Its Branch Banking segment provides a range of deposit and loan products to individuals and small businesses.

Fifth Third Bancorp Fundamentals Summary

How do Fifth Third Bancorp's earnings and revenue compare to its market cap?
FITB fundamental statistics
Market CapUS$23.40b
Earnings (TTM)US$2.31b
Revenue (TTM)US$7.78b

10.1x

P/E Ratio

1.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FITB income statement (TTM)
RevenueUS$7.78b
Cost of RevenueUS$0
Gross ProfitUS$7.78b
Other ExpensesUS$5.47b
EarningsUS$2.31b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 20, 2022

Earnings per share (EPS)3.36
Gross Margin100.00%
Net Profit Margin29.66%
Debt/Equity Ratio121.2%

How did FITB perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

36%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FITB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FITB?

Other financial metrics that can be useful for relative valuation.

FITB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1.6x

Price to Earnings Ratio vs Peers

How does FITB's PE Ratio compare to its peers?

FITB PE Ratio vs Peers
The above table shows the PE ratio for FITB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.6x
CFG Citizens Financial Group
10.3x9.7%US$17.9b
RF Regions Financial
9.3x1.6%US$19.8b
HBAN Huntington Bancshares
12x3.6%US$19.8b
MTB M&T Bank
22.6x13.3%US$32.6b
FITB Fifth Third Bancorp
10.1x6.3%US$23.4b

Price-To-Earnings vs Peers: FITB is good value based on its Price-To-Earnings Ratio (10.1x) compared to the peer average (13.6x).


Price to Earnings Ratio vs Industry

How does FITB's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: FITB is expensive based on its Price-To-Earnings Ratio (10.1x) compared to the US Banks industry average (9.7x)


Price to Earnings Ratio vs Fair Ratio

What is FITB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FITB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.1x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: FITB is good value based on its Price-To-Earnings Ratio (10.1x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).


Share Price vs Fair Value

What is the Fair Price of FITB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FITB ($34.1) is trading below our estimate of fair value ($77.41)

Significantly Below Fair Value: FITB is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Fifth Third Bancorp forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


6.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FITB's forecast earnings growth (6.3% per year) is above the savings rate (1.9%).

Earnings vs Market: FITB's earnings (6.3% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: FITB's earnings are forecast to grow, but not significantly.

Revenue vs Market: FITB's revenue (5% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: FITB's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FITB's Return on Equity is forecast to be low in 3 years time (13%).


Discover growth companies

Past Performance

How has Fifth Third Bancorp performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


2.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FITB has high quality earnings.

Growing Profit Margin: FITB's current net profit margins (29.7%) are lower than last year (30.5%).


Past Earnings Growth Analysis

Earnings Trend: FITB's earnings have grown by 2.1% per year over the past 5 years.

Accelerating Growth: FITB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FITB had negative earnings growth (-6.6%) over the past year, making it difficult to compare to the Banks industry average (8.4%).


Return on Equity

High ROE: FITB's Return on Equity (12.8%) is considered low.


Discover strong past performing companies

Financial Health

How is Fifth Third Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FITB's Assets to Equity ratio (10.9x) is moderate.

Allowance for Bad Loans: FITB has a sufficient allowance for bad loans (374%).

Low Risk Liabilities: 86% of FITB's liabilities are made up of primarily low risk sources of funding.

Loan Level: FITB has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: FITB's Loans to Deposits ratio (72%) is appropriate.

Level of Bad Loans: FITB has an appropriate level of bad loans (0.5%).


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Dividend

What is Fifth Third Bancorp current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.87%

Current Dividend Yield

Dividend Yield vs Market

Fifth Third Bancorp Dividend Yield vs Market
How does Fifth Third Bancorp dividend yield compare to the market?
SegmentDividend Yield
Company (Fifth Third Bancorp)3.9%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Banks)3.2%
Analyst forecast in 3 Years (Fifth Third Bancorp)4.0%

Notable Dividend: FITB's dividend (3.87%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: FITB's dividend (3.87%) is low compared to the top 25% of dividend payers in the US market (4.53%).


Stability and Growth of Payments

Stable Dividend: FITB's dividends per share have been stable in the past 10 years.

Growing Dividend: FITB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.9%), FITB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FITB's dividends in 3 years are forecast to be well covered by earnings (35.3% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Tim Spence (43 yo)

0.25yr

Tenure

US$3,466,642

Compensation

Mr. Timothy N. Spence, also known as Tim, serves as the President at Fifth Third Bancorp since October 26, 2020 and serves as its Chief Executive officer since July 05, 2022 and also serves as its Director...


CEO Compensation Analysis

Tim Spence's Compensation vs Fifth Third Bancorp Earnings
How has Tim Spence's remuneration changed compared to Fifth Third Bancorp's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$2b

Mar 31 2022n/an/a

US$2b

Dec 31 2021US$3mUS$515k

US$3b

Sep 30 2021n/an/a

US$3b

Jun 30 2021n/an/a

US$2b

Mar 31 2021n/an/a

US$2b

Dec 31 2020US$3mUS$515k

US$1b

Sep 30 2020n/an/a

US$1b

Jun 30 2020n/an/a

US$1b

Mar 31 2020n/an/a

US$2b

Dec 31 2019US$3mUS$493k

US$2b

Sep 30 2019n/an/a

US$2b

Jun 30 2019n/an/a

US$2b

Mar 31 2019n/an/a

US$2b

Dec 31 2018US$3mUS$480k

US$2b

Sep 30 2018n/an/a

US$2b

Jun 30 2018n/an/a

US$3b

Mar 31 2018n/an/a

US$2b

Dec 31 2017US$3mUS$462k

US$2b

Sep 30 2017n/an/a

US$2b

Jun 30 2017n/an/a

US$1b

Mar 31 2017n/an/a

US$1b

Dec 31 2016US$3mUS$450k

US$1b

Sep 30 2016n/an/a

US$2b

Jun 30 2016n/an/a

US$2b

Mar 31 2016n/an/a

US$2b

Dec 31 2015US$5mUS$132k

US$2b

Compensation vs Market: Tim's total compensation ($USD3.47M) is below average for companies of similar size in the US market ($USD13.00M).

Compensation vs Earnings: Tim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: FITB's management team is not considered experienced ( 2 years average tenure), which suggests a new team.


Board Members

Experienced Board: FITB's board of directors are considered experienced (8.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FITB insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqGS:FITB Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
26 Aug 22SellUS$307,480Mitchell FeigerIndividual8,734US$35.21
02 Jun 22SellUS$255,060Kevin LavenderIndividual6,500US$39.24
17 May 22SellUS$92,325Jude SchrammIndividual2,500US$36.93
21 Apr 22SellUS$2,002,500Gregory CarmichaelIndividual50,000US$40.05
14 Feb 22SellUS$219,103Timothy SpenceIndividual4,558US$48.07
09 Feb 22SellUS$706,803Gregory CarmichaelIndividual14,363US$49.21
07 Feb 22SellUS$119,064Howard HammondIndividual2,500US$47.63
03 Nov 21SellUS$175,160Howard HammondIndividual4,000US$43.79
25 Oct 21SellUS$489,851Kristine GarrettIndividual10,740US$45.61

Ownership Breakdown

What is the ownership structure of FITB?
Owner TypeNumber of SharesOwnership Percentage
State or Government297,5290.04%
Individual Insiders2,798,4610.4%
General Public118,018,84717.2%
Institutions565,074,71182.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 63.19% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.35%
The Vanguard Group, Inc.
84,755,080$2.9b2.11%0.06%
8.06%
BlackRock, Inc.
55,290,594$1.9b1.95%0.04%
7.18%
Capital Research and Management Company
49,278,272$1.7b21.77%0.11%
4.52%
State Street Global Advisors, Inc.
31,018,974$1.1b-7.92%0.06%
4.21%
T. Rowe Price Group, Inc.
28,907,169$985.7m-14.5%0.11%
2.8%
Managed Account Advisors LLC
19,194,763$654.5m30.61%0.18%
2.57%
Boston Partners Global Investors, Inc.
17,607,001$600.4m3.6%0.49%
2.09%
J.P. Morgan Asset Management, Inc.
14,366,941$489.9m7%0.09%
2.04%
Geode Capital Management, LLC
13,970,723$476.4m2.09%0.06%
1.91%
AllianceBernstein L.P.
13,105,855$446.9m30.44%0.18%
1.74%
Charles Schwab Investment Management, Inc.
11,945,318$407.3m6.72%0.1%
1.53%
Invesco Ltd.
10,486,105$357.6m-0.66%0.12%
1.26%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
8,675,126$295.8m8.88%0.1%
1.25%
Merrill Lynch & Co. Inc., Banking Investments
8,552,289$291.6m-0.52%0.15%
1.21%
Dimensional Fund Advisors LP
8,300,842$283.1m-1.93%0.07%
1.07%
Eaton Vance Management
7,308,974$249.2m-0.32%0.09%
1.04%
Northern Trust Global Investments
7,114,946$242.6m0.45%0.05%
0.9%
Allspring Global Investments, LLC
6,186,107$210.9m-0.89%0.31%
0.82%
Norges Bank Investment Management
5,618,060$191.6m0%0.03%
0.81%
City National Rochdale, LLC
5,588,237$190.6m0.68%0.72%
0.79%
BNY Mellon Asset Management
5,416,354$184.7m6.49%0.04%
0.77%
LSV Asset Management
5,303,470$180.8m-7.78%0.36%
0.77%
Morgan Stanley, Investment Banking and Brokerage Investments
5,282,392$180.1m-6.83%0.03%
0.76%
Invesco Capital Management LLC
5,227,198$178.2m5.62%0.13%
0.75%
Legal & General Investment Management Limited
5,124,123$174.7m8.26%0.05%

Company Information

Fifth Third Bancorp's employee growth, exchange listings and data sources


Key Information

  • Name: Fifth Third Bancorp
  • Ticker: FITB
  • Exchange: NasdaqGS
  • Founded: 1858
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$23.399b
  • Shares outstanding: 686.19m
  • Website: https://www.53.com

Number of Employees


Location

  • Fifth Third Bancorp
  • Fifth Third Center
  • 38 Fountain Square Plaza
  • Cincinnati
  • Ohio
  • 45263
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FITBNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJan 1980
FFHDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1980
0IM1LSE (London Stock Exchange)YesCommon SharesGBUSDJan 1980
A1HK3YDB (Deutsche Boerse AG)5.1%-FRN JNR PERP USD 'H'DEUSDMay 2013
FITB.INasdaqGS (Nasdaq Global Select)DEP 1/1000 PFDUSUSDDec 2013
FFTD34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REP 1 COM NPVBRBRLMay 2019
FITB.PNasdaqGS (Nasdaq Global Select)6% DP SH CL B SRUSUSDAug 2019
FITB.ONasdaqGS (Nasdaq Global Select)4.95 DP SH PFD KUSUSDSep 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.