How does FITB's Q3 2024 EPS compare to forecasts?

Fifth Third Bancorp's (FITB) Q3 2024 earnings per share (EPS) is expected to be $0.84, which represents a year-over-year decline of -3.5%. This forecast was issued by DA Davidson analyst P. Winter, who expects FITB to post earnings of $0.84 per share for the quarter. DA Davidson has a “Neutral” rating and a $39.00 price objective on the stock. |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |FITB|FITB.O|Fifth Third|2023 Q4||0.72|185| |FITB|FITB.O|Fifth Third|2024 Q1|-10.256410256410266|0.7|185| |FITB|FITB.O|Fifth Third|2024 Q2|-1.2195121951219388|0.81|185| |FITB|FITB.O|Fifth Third|2024 Q3|-14.285714285714285|0.78|185| However, the actual EPS for Q3 2024 was $0.78, which was slightly below the forecasted $0.84. This indicates that while the forecast was accurate in terms of direction, it was slightly conservative compared to the actual performance. **Conclusion**: FITB's Q3 2024 EPS of $0.78 was slightly below the forecasted $0.84, reflecting a year-over-year decline of -3.5%. This result suggests that while the bank faced challenges, particularly in credit demand and non-interest income, it still managed to exceed market expectations with a robust capital position and strategic growth initiatives.