Fifth Third Bancorp (FITB) - NASDAQ
  • Jan. 20, 2015, 5:30 PM
  • Jan. 5, 2015, 1:25 PM
    • "We view Wells Fargo (WFC -2.7%) as a core bank holding, but shares have reached our price target and we believe sentiment is now overwhelmingly positive after leading returns in 2014 (+21%, #1 among the top 50 banks)," says Baird's David George, who earlier downgraded the stock from Outperform to Neutral.
    • Put the money in another bank? Not so quick, says George, suggesting the Fed could tighten later and be less aggressive than most expect, disappointing those hoping for higher rates to boost profits. Other than Wells Fargo, George sees sentiment highest in PNC Financial (PNC -2.7%), SunTrust (STI -3.9%), and U.S. Bancorp (USB -2.2%).
    • Asset-sensitive names like Comerica (CMA -3.7%) and Zions (ZION -3.4%) lagged in 2014, but estimates still look to high.
    • Top ideas would be Fifth Third (FITB -2.7%), Capital One (COF -2.4%), and JPMorgan (JPM -3%), but George is having a tough time finding value in the sector.
    • Previously: Longtime Wells Fargo bull rings the register (Jan. 5)
    | Jan. 5, 2015, 1:25 PM | 3 Comments
  • Dec. 16, 2014, 11:02 AM
    • Fifth Third Bancorp (NASDAQ:FITB) declares $0.13/share quarterly dividend, in line with previous.
    • Forward yield 2.67%
    • Payable Jan. 21; for shareholders of record Dec. 31; ex-div Dec. 29.
    | Dec. 16, 2014, 11:02 AM
  • Oct. 23, 2014, 7:39 AM
    • It's a bit of a regional bank pair trade at Goldman Sachs, which upgrades Fifth Third Bancorp (NASDAQ:FITB) to Buy citing the recent underperformance of the stock (off 10.5% YTD), and downgrades BB&T (NYSE:BBT) to Neutral on risks to 2015 earnings estimates.
    • FITB +0.65% premarket
    | Oct. 23, 2014, 7:39 AM
  • Oct. 17, 2014, 9:42 AM
    • Fifth Third (FITB +0.4%) slipped nearly 5% in yesterday's session following its Q3 report, bringing its decline over the last month to about 15%.
    • "We will have some short-term pain" on net interest income, said CFO Tayfun Tuzun on the earnings call (transcript) yesterday. "In this environment, we are just not adding the leverage to the portfolio. We just don’t believe that the risk return profile of those investments at this point are attractive enough."
    • Citi upgrades to a Buy with $24 price target.
    | Oct. 17, 2014, 9:42 AM | 1 Comment
  • Oct. 16, 2014, 7:43 AM
    • Q3 net income after preferred dividends of $328M or $0.39 per share vs. $421M and $0.47 one year ago. This year's income includes a $35M after-tax or $0.04 per share negative valuation adjustment on Vantiv warrants.
    • Net interest income of $908M up 1% Y/Y, with net interest margin slipping 21 basis points to 3.10%.
    • Noninterest income of $520M down 28% Y/Y, impacted by the previously mentioned $53M Vantiv warrant charge (plus 2013 Q3 included an $85M gain). Mortgage banking net revenue of $61M fell from $121M a year earlier - originations of $2.1B fell from $4.8B.
    • Noninterest expense of $888M falls 7% Y/Y. Litigation reserve charge this quarter of $4M compares to $61M in Q2 and $30M a year ago.
    • Tangible book value per share of $13.95 up from $13.86 one quarter ago.
    • Conference call at 9 ET
    • Previously: Fifth Third Bancorp EPS in-line, misses on revenue
    • FITB flat premarket
    | Oct. 16, 2014, 7:43 AM
  • Oct. 16, 2014, 6:41 AM
    • Fifth Third Bancorp (NASDAQ:FITB): Q3 EPS of $0.43 in-line.
    • Revenue of $1.43B (-11.7% Y/Y) misses by $80M.
    | Oct. 16, 2014, 6:41 AM
  • Oct. 15, 2014, 5:30 PM
    | Oct. 15, 2014, 5:30 PM | 5 Comments
  • Oct. 15, 2014, 10:49 AM
    | Oct. 15, 2014, 10:49 AM | 5 Comments
  • Sep. 24, 2014, 8:08 AM
    • "The new division was created to rethink the payment and commerce experience with innovation that delivers greater value to customers," says Fifth Third Bank (NASDAQ:FITB). The unit will be led by Randy Koporc, who most recently was president of the lender's Georgia affiliate.
    • "Fifth Third is evolving beyond the traditional payment infrastructure to provide solutions for complex, high transaction industries and segments such as retail and healthcare."
    | Sep. 24, 2014, 8:08 AM
  • Sep. 18, 2014, 12:53 PM
    • Banks, insurers, brokerages and anything else starved for yield continue to gain following yesterday's FOMC news. Among the gainers are Bank of America (BAC +1.9%) - which breaks above $17 for the first time since April - Citigroup (C +2.7%), Wells Fargo (WFC +1.1%), PNC (PNC +1.1%), Fifth Third (FITB +1.7%), SunTrust (STI +1.2%), Schwab (SCHW +2.3%), Prudential (PRU +2.5%), and Lincoln National (LNC +2.4%).
    • The XLF +1.2%, KBE +1.5%, and KRE +2%.
    • Financial sector ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, SEF, IYG, FXO, KBWB, FNCL, RKH, QABA, FINU, KRU, KBWR, RWW, RYF, KRS, FINZ
    • Lit up bright red is the utility sector (XLU -1%), led by Southern Company (SO -1.1%), Dominion Resources (D -1.2%), Duke Energy (DUK -1.4%), and Pinnacle West (PNW -1.9%).
    • Utility ETFs: XLU, IDU, VPU, UPW, RYU, FUTY, PUI, FXU, SDP, PSCU
    | Sep. 18, 2014, 12:53 PM
  • Sep. 16, 2014, 2:43 PM
    • Fifth Third Bancorp (NASDAQ:FITB) declares $0.13/share quarterly dividend, in line with previous.
    • Forward yield 2.52%.
    • Payable Oct. 16; for shareholders of record Sept. 30; ex-div Sept. 26.
    | Sep. 16, 2014, 2:43 PM
  • Jul. 17, 2014, 3:45 PM
    • Shares of Fifth Third Bank (FITB -6.4%) hit their lows for the day after FITB lowered its guidance for full-year pre-provision net revenue and net interest income, citing pressure in the mortgage business and the discontinuance of a small-dollar loan product that came under regulatory scrutiny.
    • Large lenders have been hit by the slowdown in mortgage lending, and FITB is no different; adjusted for a gain from the sale of Vantiv shares and other items, Q2 earnings fell 7% Y/Y, mostly from a 67% Y/Y in mortgage banking revenue to $78M.
    • Mortgage originations fell to $2B from $7.5B a year earlier, but were up from $1.7B in the previous quarter.
    | Jul. 17, 2014, 3:45 PM
  • Jul. 17, 2014, 6:35 AM
    • Fifth Third Bancorp (NASDAQ:FITB): Q2 EPS of $0.49 beats by $0.06.
    • Revenue of $1.64B (-15.5% Y/Y) beats by $100M.
    | Jul. 17, 2014, 6:35 AM
  • Jul. 16, 2014, 5:30 PM
  • Jul. 11, 2014, 3:58 PM
    • Wells Fargo’s (WFC -0.7%) disappointing Q2 results could be good news for PNC Financial Services (PNC +0.4%), Fifth Third (FITB +1%), KeyCorp (KEY +0.1%) and Comerica (CMA +0.5%), according to Nomura analysts.
    • The strength in WFC’s commercial loan portfolio - total core loan growth came in at 6.9% Y/Y, up from 5.6% last quarter - bodes well for other regional banks, given high C&I growth correlations (~80% or higher); total loan growth correlations also exceed 90% for PNC, FITB, KEY and CMA.
    • The firm notes that the R-squared between earning asset growth and net interest income growth is 98% for regional banks, suggesting that stronger loan growth will lead to positive EPS revisions.
    | Jul. 11, 2014, 3:58 PM | 4 Comments
Company Description
Fifth Third Bancorp is a diversified financial services company. It operates as a bank holding company through its subsidiary Fifth Third Bank, which provides banking and financial services, offers retail and commercial banking, consumer lending services and investment advisory services. The... More
Sector: Financial
Industry: Regional - Midwest Banks
Country: United States