Fifth Third Bancorp (FITB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, Fifth Third Bancorp (FITB) reported revenue of $2.1 billion, down 5.1% over the same period last year. EPS came in at $0.76, compared to $0.78 in the year-ago quarter.

The reported revenue represents a surprise of +0.75% over the Zacks Consensus Estimate of $2.08 billion. With the consensus EPS estimate being $0.71, the EPS surprise was +7.04%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Book value per share: $24.72 compared to the $25.30 average estimate based on eight analysts.
  • Efficiency Ratio (FTE): 63.9% versus the eight-analyst average estimate of 64.6%.
  • Net interest margin (FTE): 2.9% compared to the 2.8% average estimate based on eight analysts.
  • Return on average assets: 1% compared to the 0.9% average estimate based on seven analysts.
  • Tangible book value per share (including AOCI): $17.35 compared to the $17.67 average estimate based on seven analysts.
  • Average balance - Total interest-earning assets: $195.35 billion versus the seven-analyst average estimate of $197.80 billion.
  • Net charge-off ratio (NCO ratio): 0.4% versus the six-analyst average estimate of 0.4%.
  • Return on average common equity: 11.6% compared to the 10.9% average estimate based on six analysts.
  • CET1 Capital Ratio: 10.4% versus 10.4% estimated by four analysts on average.
  • Leverage Ratio: 8.9% versus the three-analyst average estimate of 9%.
  • Tier I risk-based Capital Ratio: 11.8% compared to the 11.7% average estimate based on three analysts.
  • Total Nonperforming Assets: $748 million versus the three-analyst average estimate of $734.84 million.
View all Key Company Metrics for Fifth Third Bancorp here>>>

Shares of Fifth Third Bancorp have returned -7.5% over the past month versus the Zacks S&P 500 composite's -2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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