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Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.

Fifth Third Bancorp - Depositary Share repstg 1/1000th Ownership Interest Perp Pfd Series I

Fifth Third Bancorp - Depositary Shares each representing a 1/1000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series K

Fifth Third Bancorp - Depositary Shares each representing 1/40th share of Fifth Third 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A

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Fifth Third On Oct. 21 Entered Share Repurchase With Morgan Stanley For ~$300M

In the last three months, 4 analysts have published ratings on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), offering a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Fifth Third Bancorp, revealing an average target of $49.0, a high estimate of $51.00, and a low estimate of $47.00. This upward trend is apparent, with the current average reflecting a 11.36% increase from the previous average price target of $44.00.
<img src="https://www.benzinga.com/files/images/story/2024/1729540812_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Fifth Third Bancorp. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$51.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$40.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fifth Third Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Fifth Third Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Fifth Third Bancorp's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Fifth Third Bancorp's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FITB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fifth Third Bancorp analyst ratings.</a>
<h2>Unveiling the Story Behind Fifth Third Bancorp</h2>
Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
<h3>Fifth Third Bancorp: Financial Performance Dissected</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Negative Revenue Trend: Examining Fifth Third Bancorp's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -3.02% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Fifth Third Bancorp's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 27.69% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 3.3%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Fifth Third Bancorp's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.26%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.13.
<h2>The Significance of Analyst Ratings Explained</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Fifth Third Bancorp Stock: A Deep Dive Into Analyst Perspectives (4 Ratings)

4 analysts have expressed a variety of opinions on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $49.0, with a high estimate of $51.00 and a low estimate of $47.00. Marking an increase of 11.36%, the current average surpasses the previous average price target of $44.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1729519257_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive Fifth Third Bancorp is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$51.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$40.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fifth Third Bancorp. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Fifth Third Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Fifth Third Bancorp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Fifth Third Bancorp's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FITB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fifth Third Bancorp analyst ratings.</a>
<h2>Discovering Fifth Third Bancorp: A Closer Look</h2>
Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
<h3>Breaking Down Fifth Third Bancorp's Financial Performance</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Fifth Third Bancorp faced challenges, resulting in a decline of approximately -3.02% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 27.69%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Fifth Third Bancorp's ROE excels beyond industry benchmarks, reaching 3.3%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Fifth Third Bancorp's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.26%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.13, Fifth Third Bancorp adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Fifth Third Bancorp Stock

Barclays analyst Jason Goldberg maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Overweight and raises the price target from $43 to $51.

Price Target

Barclays Maintains Overweight on Fifth Third Bancorp, Raises Price Target to $51

Wall Street was in positive territory in Friday midday trading, buoyed by upbeat quarterly earnings reports that kept <a href="https://www.benzinga.com/markets">investor sentiment bullish.</a>
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) surged 10% to fresh record highs after delivering a strong earnings beat. The tech-heavy Nasdaq 100 rose 0.8%, pushing its weekly performance into positive territory for the sixth consecutive week.
The S&amp;P 500 and Dow also edged higher, both on track for the sixth straight week of gains, with the Dow flirting with all-time highs.
Gold miners led industry performance as gold prices hit new record levels above $2,700 per ounce. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) soared over 4%, hitting the highest level in over four years. Friday is poised to mark the fourth straight session of gains for both gold and silver, with silver jumping over 3%, heading for its best day since late September.
West Texas Intermediate (WTI) crude prices tumbled more than 2%, slipping below the $70-per-barrel mark. WTI is down over 8% for the week, on pace for its worst weekly decline since January.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.8% to above $68,800.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,352.25</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,870.75</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,300.82</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.45</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $585.12.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% higher to $433.01.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.8% to $495.21.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $226.03.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.9%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Stocks moving in reaction to earnings reports were Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), up over 9%, Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), up over 4%, Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), down 6%, American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.4%, Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) down 0.4%, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) down 3.3%, Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), down 1.7%, Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1% and Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up 4%. </li>
<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) soared 10% following a report indicating that activist investor&nbsp;Jana Partners&nbsp;has built a 5% stake in the company.</li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) fell over 6% after the company replaced its CEO and cut its third-quarter outlook.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Equities

Sector ETFs

Broad U.S. Equity ETFs

Treasuries

Econ #s

Markets

Tech

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

Market Vectors ETF Trust Market Vectors Gold Miners

ISRG

NFLX

Stocks Rise, Netflix Soars To Record Highs, Oil Falls Below $70, Gold Miners Rally: What's Driving Markets Friday?

Fifth Third Bancorp shares are trading lower after the company reported worse-than-expected Q3 financial results.

Wall Street is priming for a positive start on Friday after the major averages ended narrowly mixed in the previous session. <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">Positive reaction</a> to Netflix, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) earnings could provide a lift to the tech space, given earnings news flow from the sector will likely start in earnest next week. Earnings and speeches by Federal Reserve officials could set the tempo for Friday&#8217;s session. China&#8217;s third-quarter GDP rose slightly more than estimates, allaying the fears of traders. Gold continues to make record after record, while oil continues to have a volatile ride amid geopolitical tensions.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.39%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.17%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.46%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.23% to $583.61 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.51% to $493.75, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed narrowly mixed as traders digested a batch of mixed economic data as well as a flurry of earnings. After opening higher, the major indices experienced some volatility in the morning, although holding mostly above the unchanged line. 
Stocks gave back most of their gains in late afternoon trading before finishing on a mixed note. 
The Dow Industrials closed at fresh intraday and closing highs, thanks to a positive reaction to Travelers Companies, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) earnings, while the S&amp;P 500 Index hit an intraday high before squandering all the gains and closing marginally lower.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.04%</td>
<td>18,373.61</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.02%</td>
<td>5,841.47</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.37%</td>
<td>43,239.05</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.25%</td>
<td>2,280.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
After separate reports showed strong September retail sales growth, jobless claims, which fell after Hurricane Helene&#8217;s impact wore off, and a decline in industrial production amid the Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) strike, Comerica Chief Economist Bill Adams said, &#8220;The economy is in pretty good shape.&#8221; &#8220;Since consumer spending fuels two-thirds of U.S. demand, the economy can't be doing too bad as long as consumers still have their pocketbooks open,&#8221; he said.
The economist expects the Hurricanes that devastated swathes of the Southeast in late September and early October to be a big drag on releases for October.&nbsp;This will make it difficult to read the underlying trend accurately, he said.
Calling the headwinds temporary, Adams said, &#8220;With the Fed expected to continue lowering interest rates through the turn of the year, credit-sensitive sectors of the economy should perk up in coming quarters, sustaining the economic expansion into 2025.&#8221;
See Also:<a href="https://www.benzinga.com/money/best-strategies-for-futures-trading"> Best Futures Trading Strategies in 2024</a>
Upcoming Economic Data:
<ul>
<li>The Commerce Department will release the housing starts report for September at 8:30 a.m. EDT. Economists, on average, estimate housing starts to come in at a seasonally adjusted annual rate of 1.35 million units, slightly down from the 1.36-million-unit rate in August. Building permits, an indicator of future housing starts may have declined from 1.48 million units to 1.45 million units.</li>
<li>Among the Fed speakers scheduled for the day are:
<ul>
<li>Atlanta Fed president Raphael Bostic: 9:30 a.m. EDT</li>
<li>Minneapolis Fed President Neel Kashkari: 10 a.m. EDT</li>
<li>Fed Governor Christopher Waller is due to speak at 12:10 p.m. EDT.</li>
</ul>
</li>
<li>The Atlanta Fed&#8217;s GDPNow data for the third quarter will be released at 10:30 a.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Netflix climbed about 5.75% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the streaming giant&#8217;s quarterly results.</li>
<li>Among the other stocks moving on earnings are Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) (up nearly 7%), and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) (down over 5.25%.</li>
<li>Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), Regions Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) are among the noteworthy <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market opening</a>.</li>
<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) fell over 10% after the Wall Street Journal reported that the company is naming longtime executive David Joyner as its new chief, succeeding Karen Lynch.</li>
<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) fell over 6% on a negative analyst action.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures pulled back modestly but gold futures gained ground as they scaled a fresh record. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) added over 1.50% over the past 24 hours and traded just under the $68K mark.
The 10-year U.S. Treasury note yield was little changed at 4.097%.
Asian stocks closed mostly higher, led by China and Hong Kong, which rallied on the back of the Chinese third-quarter GDP data. The Japanese market benefited from the yen&#8217;s weakness. The European Central Bank&#8217;s rate cut also buoyed sentiment.
The European markets also advanced in early trading, although the U.K. market was experiencing some weakness.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41397978/hedge-fund-billionaire-daniel-loeb-bets-on-trump-win-singles-out-this-recent-buy-as">Hedge Fund Billionaire Daniel Loeb Bets On Trump Win, Singles Out This Recent Buy As Having &#8216;Significant Upside Potential&#8217;</a></li>
</ul>
Image Via Shutterstock

Earnings

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Movers

Trading Ideas

COHR

US Stocks Set To End Week Strong As Netflix Q3 Earnings Boost Optimism, Gold Hits New Highs: What's Driving Sentiment Friday?

Earnings Misses

Fifth Third Bancorp Q3 2024 GAAP EPS $0.78 Misses $0.83 Estimate, Sales $2.132B Miss $2.163B Estimate

Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) will release its quarterly earnings report on Friday, 2024-10-18. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Fifth Third Bancorp to report an earnings per share (EPS) of $0.83.
Anticipation surrounds Fifth Third Bancorp's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.01, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Fifth Third Bancorp's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.85</td>
<td>0.69</td>
<td>0.85</td>
<td>0.82</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.86</td>
<td>0.76</td>
<td>0.99</td>
<td>0.92</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>6.0%</td>
<td>3.0%</td>
<td>-7.000000000000001%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729173667_0.png" alt="eps graph" />
<h3>Fifth Third Bancorp Share Price Analysis</h3>
Shares of Fifth Third Bancorp were trading at $44.98 as of October 16. Over the last 52-week period, shares are up 95.06%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/FITB/earnings">To track all earnings releases for Fifth Third Bancorp visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Uncovering Potential: Fifth Third Bancorp's Earnings Preview

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$10.00</td>
<td>$37.4K</td>
<td>23.4K</td>
<td>84.6K</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$42.50</td>
<td>$94.3K</td>
<td>2.7K</td>
<td>5.9K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$70.00</td>
<td>$229.0K</td>
<td>53.1K</td>
<td>4.5K</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$50.00</td>
<td>$51.6K</td>
<td>1.9K</td>
<td>2.4K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$40.00</td>
<td>$50.6K</td>
<td>1.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$200.00</td>
<td>$49.3K</td>
<td>5.6K</td>
<td>778</td>
</tr>
<tr>
<td>FITB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$45.00</td>
<td>$59.4K</td>
<td>6</td>
<td>536</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$160.00</td>
<td>$58.0K</td>
<td>1.6K</td>
<td>363</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$75.00</td>
<td>$38.8K</td>
<td>2.2K</td>
<td>321</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$57.50</td>
<td>$27.4K</td>
<td>13.2K</td>
<td>264</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on October 18, 2024. Parties traded 1499 contract(s) at a $10.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $37.4K, with a price of $25.0 per contract. There were 23443 open contracts at this strike prior to today, and today 84644 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a call option sweep that happens to be bullish, expiring in 95 day(s) on January 17, 2025. This event was a transfer of 80 contract(s) at a $42.50 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $94.3K, with a price of $1180.0 per contract. There were 2761 open contracts at this strike prior to today, and today 5976 contract(s) were bought and sold. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option sweep that happens to be bullish, expiring in 95 day(s) on January 17, 2025. This event was a transfer of 1000 contract(s) at a $70.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $229.0K, with a price of $229.0 per contract. There were 53185 open contracts at this strike prior to today, and today 4558 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a call option trade with bearish sentiment. It expires in 32 day(s) on November 15, 2024. Parties traded 52 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $51.6K, with a price of $993.0 per contract. There were 1954 open contracts at this strike prior to today, and today 2409 contract(s) were bought and sold. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option sweep that happens to be bullish, expiring in 95 day(s) on January 17, 2025. This event was a transfer of 755 contract(s) at a $40.00 strike. This particular call needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $50.6K, with a price of $67.0 per contract. There were 1489 open contracts at this strike prior to today, and today 1023 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option sweep with neutral sentiment. It expires in 95 day(s) on January 17, 2025. Parties traded 18 contract(s) at a $200.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $49.3K, with a price of $2740.0 per contract. There were 5631 open contracts at this strike prior to today, and today 778 contract(s) were bought and sold. 
• Regarding FITB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), we observe a put option sweep with bearish sentiment. It expires in 4 day(s) on October 18, 2024. Parties traded 536 contract(s) at a $45.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $59.4K, with a price of $111.0 per contract. There were 6 open contracts at this strike prior to today, and today 536 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a call option sweep that happens to be bearish, expiring in 67 day(s) on December 20, 2024. This event was a transfer of 96 contract(s) at a $160.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $58.0K, with a price of $605.0 per contract. There were 1698 open contracts at this strike prior to today, and today 363 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bullish sentiment. It expires in 67 day(s) on December 20, 2024. Parties traded 79 contract(s) at a $75.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $38.8K, with a price of $491.0 per contract. There were 2217 open contracts at this strike prior to today, and today 321 contract(s) were bought and sold. 
• Regarding WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we observe a call option sweep with bullish sentiment. It expires in 95 day(s) on January 17, 2025. Parties traded 40 contract(s) at a $57.50 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $27.4K, with a price of $688.0 per contract. There were 13282 open contracts at this strike prior to today, and today 264 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AFRM

COIN

HOOD

SOFI

UPST

10 Financials Stocks With Whale Alerts In Today's Session

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) is scheduled to report third-quarter 2024 results on Oct. 18 before the opening bell. Quarterly revenues are expected to have registered growth in the to-be-reported quarter, while earnings are likely to have declined on a year-over-year basis.
In the last reported quarter, the bank&#39;s earnings surpassed the Zacks Consensus Estimate. Results benefited from a fall in expenses and provisions for credit losses, along with strong capital ratios. However, a decline in net interest income (NII), and lower loan and deposit balances were major headwinds.
This Cincinnati, OH-based lender has an impressive earnings surprise history. Its earnings beat estimates in the trailing four quarters, the surprise being 7.91%, on average.
<h3>Fifth Third Bancorp Price and EPS Surprise</h3>
<div class="chart_embed"><img alt="Fifth Third Bancorp Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/64/1728910402.png" style="height:266px; width:546px" title="" /></div>
<div class="chart_embed">Fifth Third Bancorp price-eps-surprise | Fifth Third Bancorp Quote</div>
<div class="chart_embed">Here are some factors that are expected to have impacted FITB&#39;s quarterly performance.</div>
Loans &amp; NII: On Sept. 18, the Federal Reserve cut interest rates by 50 basis points to 4.75-5% for the first time since March 2020. While the rate cut is not expected to significantly affect FITB&#39;s NII in the quarter under review, greater clarity on the Fed&#39;s rate cut path, along with a stabilizing macroeconomic environment, is likely to have aided the lending outlook.&nbsp;
Per the Fed&#39;s latest data, lending activities continued at a decent pace in the third quarter. This is expected to have supported the company&#39;s average interest-earning assets in the third quarter of 2024.
The Zacks Consensus Estimate for average interest-earning assets of $195 billion for the quarter indicates marginal growth from the prior quarter&#39;s actual. Our estimate suggests the metric to be $194.21 billion.
FITB expects third-quarter total average loans and leases to be unchanged from the second quarter&#39;s reported figure of $117.3 billion. We estimate the metric to be $117.1 billion, hinting at a marginal rise from the prior quarter&#39;s reported figure.
The company expects adjusted NII to rise 2% from the $1.39 billion reported in the second quarter of 2024. The consensus mark for NII of $1.42 billion indicates a 2.7% sequential rise. Our estimate is pegged at $1.44 billion.
Non-Interest Revenues: The stabilizing deposit balance is likely to have supported FITB&#39;s service charges on deposits. The consensus estimate for the metric of $156.4 million suggests a marginal sequential increase. Our estimate is pegged at $149.6 million.
Global mergers and acquisitions (M&amp;As) showed signs of improvement in the third quarter of 2024 after subdued performances in 2023 and 2022. Both deal value and volume were decent in the quarter, driven by a solid financial performance, higher chances of a soft landing of the U.S. economy, buoyant markets and interest rate cuts.&nbsp;
With increased M&amp;A volumes, advisory revenues are expected to have improved, positively impacting commercial banking revenues.
The Zacks Consensus Estimate for commercial banking revenues is pegged at $156.1 million, indicating an 8.4% sequential increase. We project the metric to be $149.9 million.
As the central bank lowered the rates, mortgage rates started to come down. The rates declined to 6.2% by the end of the third quarter.&nbsp;
Though mortgage origination volume remained subdued in the third quarter, refinancing activities witnessed a significant surge, supported by lower mortgage rates. This is likely to have supported FITB&#39;s mortgage banking income. The Zacks Consensus Estimate for the metric is pegged at $55 million, suggesting an increase of 10% from the prior quarter&#39;s reported figure. We estimate the metric to be $56.2 million.
Wealth and asset management revenues are likely to have gained from higher equity market performance in the quarter. The Zacks Consensus Estimate for wealth and asset management revenues is pegged at $159.7 million, increasing marginally from the prior quarter&#39;s actual. Our estimate is pinned at $152.1 million.
The Zacks Consensus Estimate for card and processing revenues is pegged at $108.9. million, indicating a marginal rise from the prior quarter&#39;s reported figure. Our estimate is pinned at $104.3 million.
Management expects non-interest income to rise 3-4% in the quarter to be reported, whereas it reported $717 million in the second quarter. The Zacks Consensus Estimate for non-interest income is pegged at $735.3 million, which indicates a 5.8% rise from the prior quarter. Our model estimates the metric to be $711 million.
Expenses: The company&#39;s expense base is anticipated to have escalated due to investments aimed at operational efficiencies in technology and marketing, higher compensation and benefits expenses, and initiatives such as branch digitization and marketing expenses.&nbsp;
On a sequential basis, management expects adjusted non-interest expenses to rise 1% from the $1.2 billion reported in the second quarter. We estimate total expenses to rise 6.5% on a sequential basis to $1.3 billion.&nbsp;&nbsp;
<h2>What the Zacks Model Reveals for FITB</h2>
According to our quantitative model, the chances of Fifth Third beating the Zacks Consensus Estimate this time are low. This is because it does not have the right combination of two key ingredients, a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
Earnings ESP: The Earnings ESP for Fifth Third is -0.24%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
The Zacks Consensus Estimate for FITB&#39;s third-quarter earnings of 82 cents per share has been unchanged in the past seven days. The figure indicates a fall of 10.9% from the year-ago reported number.
The consensus estimate for revenues is pegged at $2.6 billion, suggesting a rise of 0.09% from the year-ago reported figure. Management expects total revenues to increase 2-3% in the third quarter from $2.2 billion in second-quarter 2024.
<h2>Stocks That Warrant a Look</h2>
Here are some bank stocks that you may want to consider, as our model shows that these have the right combination of elements to post earnings beat this time around.
PNC Financial&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnc#NYSE">PNC</a>) Earnings ESP is +0.89% and it carries a Zacks Rank #3 at present. The company is slated to report third-quarter 2024 results on Oct. 15.
PNC&#39;s quarterly earnings estimates have revised upward by 1.5% to $3.29 per share over the past month.
First Horizon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fhn#NYSE">FHN</a>) has an Earnings ESP of +3.18% and a Zacks Rank #3 at present. The company is scheduled to release its third-quarter 2024 earnings on Oct. 16. &nbsp;
FHN&#39;s quarterly earnings estimates have been unchanged at 38 cents over the past month.
<a href="https://www.zacks.com/stock/news/2350048/high-expenses-to-hurt-fifth-third-s-q3-earnings-fee-income-to-ail?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2350048">To read this article on Zacks.com click here.</a>

Earnings Beats

Large Cap

Financing

Management

High Expenses to Hurt Fifth Third's Q3 Earnings, Fee Income to Ail

CARV

CZNB

EWBC

FCNCA

FFWM

FNWD

GBCI

HSBC

NYCB

TIGR

TRUP

Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

The third-quarter earnings season for U.S. banks will officially kick off this Friday, with major financial institutions like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) set <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">to report their results. </a>
The following Tuesday will see additional earnings releases from mega-cap players such as Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), as well as some regional banks.
<h3 class="wp-block-heading">Banking Sector Performance So Far In 2024</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png" alt="" class="wp-image-587909" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chart:<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1"> Benzinga Pro</a></figcaption></figure>
Thus far, in 2024, the banking sector has shown strong performance. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major financial stocks, has risen 21% year-to-date, matching the performance of the broader market as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
However, regional banks have lagged behind their larger counterparts. The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) is up just 6% year-to-date, though it has outperformed over the past three months. This recent rebound is largely due to falling inflation and increasing expectations of Federal Reserve interest rate cuts.
With earnings season approaching, the question on many investors&#8217; minds is whether large banks will maintain their positive performance gap over regional players or if recent market developments will impact their results and outlooks. 
Here&#8217;s what Wall Street analysts are saying ahead of the bank earnings season.
<h3 class="wp-block-heading">Analyst Expectations And Top Picks</h3>
<h4 class="wp-block-heading">RBC Capital Markets – Gerard Cassidy, co-head of global financials research</h4>
&#8220;We believe the set-up looks very good for banks over the next 12-18 months. We expect the Federal Reserve to cut short-term interest rates by 200-250 basis points over this period, and the finalization of the Basel III &#8216;endgame&#8217; proposal will allow banks to return excess capital through buybacks and dividends. We continue to recommend an overweight position in bank stocks.&#8221;
<ul>
<li>Top Picks (RBC holds earnings per share estimates for both above Street consensus for the third quarter)
<ul>
<li>Truist Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)</li>
<li>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">JPMorgan Chase &amp; Co. – Anthony Elian, CFA</h4>
&#8220;As the Federal Reserve reduces rates, several industry headwinds could turn into tailwinds.&#8221; This includes:
<ol>
<li>Lower deposit costs, improving net interest margins (NIMs)</li>
<li>An uptick in commercial loan demand</li>
<li>Easing credit quality concerns, particularly for banks with commercial real estate (CRE) exposure</li>
<li>A resumption of buyback programs as reserves are released</li>
<li>Increased exit market and venture capital activity.</li>
</ol>
<ul>
<li>Top Picks:
<ul>
<li>First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>)</li>
<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</li>
<li>Pinnacle Financial Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Wedbush Securities – David J. Chiaverini, CFA</h4>
&#8220;We expect mixed trends for banks in Q3, with modest loan and deposit growth, stabilizing deposit mix shifts, and NIMs benefiting from fixed asset repricing. Some banks will be more positively positioned than others in this environment.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</li>
<li>Columbia Banking Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) Wedbush believes Columbia Banking Systems will benefit from a lower rate environment as it is liability-sensitive, unlike most banks that are asset-sensitive.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Bank of America – Ebrahim H. Poonawala</h4>
&#8220;We favor regional banks over large money centers heading into Q3, given better net interest income (NII) defensibility and greater capital relief as mark-to-market losses on bond books decrease. Our top ideas going into Q3 earnings include a mix of regionals and larger financial institutions.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</li>
<li>Western Alliance Bancorporation </li>
<li>PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</li>
<li>Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>)</li>
<li>M&amp;T Bank Corp.</li>
<li>Truist Financial Corporation</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Goldman Sachs Inc.</li>
<li>Bank of New York Mellon Corp.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Goldman Sachs – Richard Ramsden</h4>
Goldman Sachs is particularly optimistic about Citigroup heading into Q3 earnings, citing the bank's progress toward its 2024 targets driven by strong fee growth, solid capital markets activity, and robust card volumes. 
Ramsden is above consensus on Citigroup's Q3 pre-provision net revenue (PPNR), largely due to expectations of higher fees and capital markets activity.
<ul>
<li>Top Pick:
<ul>
<li>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</li>
</ul>
</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">S&amp;P 500 Earnings Season Kicks Off: Why Analysts Call This Quarter &#8216;A Stock Picker&#8217;s Paradise&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Macro Economic Events

Mid Cap

Small Cap

PNFP

WTFC

Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist

Insurance, regional banks, fitness centers, utilities, hospitals and theme parks are among the sectors that could be negatively impacted when Hurricane Milton hits Florida Wednesday night or <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">early </a><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Thursday </a><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">morning.</a>
Here's a look at some of the sectors and stocks that investors should be watching with Hurricane Milton on the way.
Hurricane Milton Update: According <a href="https://www.nbcnews.com/news/weather/map-hurricane-milton-path-forecast-status-track-rcna174203">to </a>NBC News, <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton was downgraded </a>to a Category 4 storm on Wednesday morning. The hurricane is expected to make landfall Wednesday night and could hit some of Florida&#8217;s most populous areas, including the Tampa Bay area.
Evacuation orders are in place for multiple Florida counties with government officials warning that failure to follow the orders could lead to casualties.
With evacuations taking place, Florida service stations are running out of gas, and there are concerns about charging electric vehicles on evacuation routes.
The constant changes in the storm's path could have a major effect on the damage and potential casualties. A landfall in the Tampa Bay area is seen as the worst-case scenario for the hurricane, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-09-24/index.html" target="_blank" rel="noopener">CNN</a>.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton Evacuations &#8216;A Matter Of Life And Death,&#8217; Biden Says: Fed&#8217;s Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months</a>
Regional Banks: DA Davidson analyst Gary Tenner looked at the regional banks that could be most impacted by Hurricane Milton in a new investor note.
"Based on experience, we would expect the banks in the market to be impacted in multiple ways in the post-hurricane period, including a potential deposit boost related to insurance settlements, elevated near term expenses and provision, with lending opportunities related to rebuilding efforts,&#8221; Tenner said.
The analyst said banks in the Tampa and St. Petersburg areas could see near-term increased expenses but could see "positive offsets over the longer term."
Based on market share in the region, Tenner highlights the following regional banks:
<ul>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>): Buy rating</li>
<li>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>): Neutral rating</li>
<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>): Buy rating</li>
<li>SouthState Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>): Buy rating</li>
<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>): Buy rating</li>
<li>Hancock Whitney Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>): Buy rating</li>
</ul>
Hospitals Impact: Hospital operators in the Florida region could be negatively impacted by Hurricane Milton and face IV shortages, RBC analyst Ben Hendrix said in a new investor note.
"Hospital operators traded slightly lower on Thursday, which we believe reflects at least in part weather-related concerns as Hurricane Milton moves toward Florida's west coast," Hendrix said.
The analyst said hospitals could see "some disruptions to facilities" in the coming days.
RBC highlights the following hospitals in the report:
<ul>
<li>Community Health Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>): Outperform rating</li>
<li>HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>): Outperform rating</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>): Outperform rating</li>
<li>Universal Health Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>): Sector Perform rating</li>
</ul>
"We believe HCA may be spared the worst of the storm damage with most of its hospital concentration in Central Florida located in the Tampa Bay area, which is north of the expected Sarasota landfall," Hendrix said.
Utilities Impact: Hurricane Milton could have a negative impact on utility stocks, Scotiabank analyst Andrew Weisel warned investors in a new note.
"While we remain bullish on U.S. utility fundamentals and valuations, we're growing somewhat cautious about investor sentiment, which had finally started to turn positive after years of negativity or indifference," Weisel said.
The analyst said they generally caution against trading around storms like Hurricane Milton.
"Rising hurricane activity is no doubt worrisome."
Weisel said the utility sector has several catalysts like rate cuts and the 2024 election, aside from the hurricane impact.
Top utility picks from Weisel are CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) and DTE Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>). After these three top picks, the analyst highlights Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) and American Electric Power Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) as other favorable utility names. 
Weisel also said he would buy Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) because of its weakness ahead of Hurricane Milton.
"While outages often lead to lost revenues, slightly weighing on near-term earnings, the impacts are generally very modest," Weisel said.
Another major utility that could be impacted by Hurricane Milton is Tampa Electric, owned by Emera Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>). Serving the Tampa Bay area, Tampa Electric is particularly vulnerable to the storm&#8217;s effects.
Insurance Stocks: The insurance sector is one of the sectors most on watch for the damaging impact and cleanup aftermath from Hurricane Milton.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) are among the large insurers that could be impacted.
RBC analyst Derald Goh, who covers European insurance stocks, shared a note on the potential damage from the hurricane.
"A potential $60bn industry loss from Hurricane Milton appears very manageable for a sector that is keen to demonstrate stronger earnings resiliency and should drive a re-rating," Goh said.
The $60 billion estimate comes as Hurricane Milton is expected to cause destruction similar to that caused by Hurricane Ian in 2022. Based on the estimated damage from that storm, the analyst considers this estimate the most reliable method for predicting the impact on insurance companies.
Goh said five hurricanes have made landfall in the U.S. this season, and the previous average forecast was 12.
Leisure Sector: Hurricane Milton could also impact theme parks, with the state of Florida home to Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and Universal Studios Orlando, owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Disney announced it is <a href="https://www.benzinga.com/markets/equities/24/10/41245886/disney-world-closes-early-as-hurricane-milton-approaches-florida-parks-brace-for-impact">closing Disney World parks early </a>on Wednesday and transportation services could remain limited, with a plan to re-open on Thursday. The storm may have scared away a large amount of tourists. Goldman Sachs recently said Disney could see a<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac"> $150 million to $200 million</a> negative impact from Hurricane Milton.
Morgan Stanley analyst Megan Alexander sees Hurricane Milton having a negative impact on fitness centers Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) and Life Time Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) and indoor golf facility company Topgolf Callaway Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MODG#NYSE">MODG</a>).
"Overall, PLNT appears to be the most exposed across our coverage particularly given the concentration of corporate locations in the state," Alexander said.
The analyst, who has an Overweight rating and a $84 price target on Planet Fitness, said Florida represents around 25% of corporate-owned locations. Store closures could negatively impact new membership additions, but Alexander added that the monthly membership fee revenue model could insulate the company from a negative impact.
The analyst sees Life Time Group, rated Equal Weight with a $21 price target, having a minimal impact with only five locations in Florida, which is less than 3% of total locations.
Alexander said Topgolf has nine locations in Florida, with five currently closed due to Hurricane Milton. The analyst, who has an Underweight rating and a $10 price target on the stock, said Topgolf will likely see a minimal impact unless locations have severe storm damage and have to be closed for an extended time period.  
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a></li>
</ul>
Image of Hurricane Milton courtesy of NASA.

Health Care

Reiteration

Insurance

CMCSA

EMRAF

MODG

PLNT

Hurricane Milton Descends On Florida: Analysts Warn Of Impact On Disney, NextEra's Florida Power & Light, Regional Banks

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and <a href="https://www.benzinga.com/topic/banks">their impact on bank valuations. </a>
Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks. They predict that a soft-landing scenario could trigger a rebound in customer activity, improve loan growth, and positively drive higher price-to-earnings (P/E) multiples for the sector. However, macro uncertainties, including Fed policy shifts and the upcoming U.S. elections, temper the enthusiasm.
Bank of America equity analyst Ebrahim H. Poonawala highlighted in a note Monday that rate cuts could be &#8220;structurally bullish&#8221; for bank earnings per share (EPS) outlooks and stock P/E multiples. A softer rate environment is expected to reinvigorate customer activity, particularly in investment banking, mortgage lending, and loan growth.
However, lower interest rates are expected to negatively impact &#8220;asset-sensitive banks&#8221; as loan yields will drop.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This &#8216;Positive Catalyst&#8217; Could Be More Important</a>
<h3 class="wp-block-heading">Political Risks Loom Large Ahead of Elections</h3>
The upcoming U.S. election adds an additional layer of uncertainty for banks. 
&#8220;A&nbsp;Trump win is likely seen as positive for relief on the regulatory/M&amp;A fronts.&nbsp;Democratic sweep likely most negative outcome for the sector given potential for higher taxes, more of the same (or worse) on regulatory changes,&#8221; analysts wrote.
While current valuations appear cautiously optimistic about a soft landing, political outcomes could trigger volatile movements in the sector. A Trump win would likely lead to a &#8220;knee-jerk&#8221; positive reaction in bank stocks, while a Democratic win could weigh on sentiment.
<h3 class="wp-block-heading">Regional Banks Preferred Over Money Center Banks</h3>
For the third quarter of 2024, the investment bank favored regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), over large money center banks, citing &#8220;better defensibility of net interest income (NII).&#8221;
Regionals have greater flexibility with deposits, better hedging strategies, and more potential for capital relief as mark-to-market losses on bond books decline. 
Key picks include U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), Fifth Third (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), and Truist Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>).
First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is seen as the &#8220;best positioned to navigate current rate expectations,&#8221; while Texas Capital Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is the most impacted.
On Monday, Bank of America also downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from &#8220;Neutral&#8221; to &#8220;Underperform,&#8221; reducing the price target from $55 to $52. Analyst Brandon Berman highlighted that the positive rate trade underpinning Comerica &#8220;has run its course,&#8221; and the stock now trades above the high end of its historical range, not reflecting the risk of downward earnings revisions.
Looking ahead, Friday, Oct. 11, will see key earnings reports from JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNY#NYSE">BNY</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Will Kamala Harris&#8217;s Media Blitz, Including &#8217;60 Minutes&#8217; And &#8216;Call Her Daddy,&#8217; Improve Her 2024 Election Prospects?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

TCBI

US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks

In the last three months, 7 analysts have published ratings on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), offering a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Fifth Third Bancorp, revealing an average target of $45.57, a high estimate of $51.00, and a low estimate of $40.00. This current average has increased by 9.62% from the previous average price target of $41.57. 
<img src="https://www.benzinga.com/files/images/story/2024/1727881228_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Fifth Third Bancorp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$51.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Stephen Biggar</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fifth Third Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fifth Third Bancorp compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Fifth Third Bancorp's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fifth Third Bancorp's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FITB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fifth Third Bancorp analyst ratings.</a>
<h2>Discovering Fifth Third Bancorp: A Closer Look</h2>
Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
<h3>Breaking Down Fifth Third Bancorp's Financial Performance</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Decline in Revenue: Over the 3 months period, Fifth Third Bancorp faced challenges, resulting in a decline of approximately -3.02% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Fifth Third Bancorp's net margin is impressive, surpassing industry averages. With a net margin of 27.69%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Fifth Third Bancorp's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.3%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Fifth Third Bancorp's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.26%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.13.
<h2>What Are Analyst Ratings?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 7 Ratings For Fifth Third Bancorp

Evercore ISI Group analyst John Pancari maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a In-Line and raises the price target from $46 to $47.

Evercore ISI Group Maintains In-Line on Fifth Third Bancorp, Raises Price Target to $47

Morgan Stanley analyst Manan Gosalia maintains Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) with a Equal-Weight and raises the price target from $47 to $51.

Morgan Stanley Maintains Equal-Weight on Fifth Third Bancorp, Raises Price Target to $51

Fifth Third Receives $50M Allocation In Federal New Markets Tax Credits From U.S. Treasury's $5B Fund, One Of 104 Entities To Receive Award

Wells Fargo analyst Mike Mayo maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report) on October 18 and set a price target of $52.0...

Wells Fargo Reaffirms Their Buy Rating on Fifth Third Bancorp (FITB)

Bank of America Securities analyst Ebrahim Poonawala reiterated a Buy rating on Fifth Third Bancorp (FITB – Research Report) today. The company's s...

Fifth Third Bancorp (FITB) Gets a Buy from Bank of America Securities

In a report released on October 18, Gerard Cassidy from RBC Capital maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report), with a...

Fifth Third Bancorp (FITB) Receives a Rating Update from a Top Analyst

In a report released today, Manan Gosalia from Morgan Stanley maintained a Hold rating on Fifth Third Bancorp (FITB – Research Report), with a pric...

Fifth Third Bancorp (FITB) Gets a Hold from Morgan Stanley

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Franklin Resources (BEN – Research Report), Fifth T...

Analysts Offer Insights on Financial Companies: Franklin Resources (BEN), Fifth Third Bancorp (FITB) and Equitable Holdings (EQH)

Analysts have been eager to weigh in on the Financial sector with new ratings on Fifth Third Bancorp (FITB – Research Report), MGIC Investment (MTG...

Analysts Conflicted on These Financial Names: Fifth Third Bancorp (FITB), MGIC Investment (MTG) and Apollo Global Management (APO)

Fifth Third (FITB) Bank, National Association, announced it will decrease its prime lending rate to 7.75%, effective immediately. Published first o...

Fifth Third to decrease prime lending rate to 7.75%

Most and least shorted S&P 500 financial stocks in October

Wells Fargo analyst Mike Mayo raised the firm's price target on Fifth Third (FITB) to $54 from $52 and keeps an Overweight rating on the shares as ...

Fifth Third price target raised to $54 from $52 at Wells Fargo

Wells Fargo analyst Mike Mayo maintained a Buy rating on Fifth Third Bancorp (FITB – Research Report) today and set a price target of $54.00. The c...

Fifth Third Bancorp (FITB) Gets a Buy from Wells Fargo

Press Releases

Fifth Third Foundation Supports Communities Impacted by Hurricane Milton

Fifth Third Bancorp Reports Third Quarter 2024 Diluted Earnings Per Share of $0.78

Fifth Third Named To Forbes' Best Customer Service List

Fifth Third Launches Small Business Catalyst Fund in Partnership with Community Reinvestment Fund, USA

Fifth Third Bancorp to Participate in the BancAnalysts Association of Boston Conference

Fifth Third Bancorp Announces Earnings Release Dates for 2026

Fifth Third Wealth Advisors ® Adds Team, Office in Charlotte, North Carolina

Fifth Third Bank to Decrease Prime Lending Rate to 7.75%

Fifth Third Private Bank Named Global Private Banking Award Winner, Honored as Best for Customer Service

Fifth Third Lights Up Hyper-Fast Electric Vehicle Chargers at Florida Branch

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