Fifth Third Bancorp Reports Q1 EPS Beat, But Revenues Come In Worse Than Expected
<p><a href='https://financialmodelingprep.com/financial-summary/FITB'>Fifth Third Bancorp (NASDAQ:FITB)</a> reported its Q1 results yesterday, with EPS of $0.83 coming in better than the Street estimate of $0.79. Revenue was $2.21 billion, missing the Street estimate of $2.23 billion.</p>
<p>The company delivered a solid performance in Q1/23 in a challenging environment, and despite moderately negative revisions to 2023 guidance, analysts at RBC Capital expect full-year results to be positive relative to 2022. </p>
<p>According to the analysts, the company remains well-capitalized with a CET1 ratio of 9.3% and has elected to pause Q2/23 share repurchase activity to maintain its strong capital levels given the significant uncertainty in the economic outlook. Aside from capital, the deposit mix will be very important over the next 12-18 months, and analysts expect the company to shine during this period.</p>

NASDAQ:FITB