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December 12, 2012
16:34 EDTFITB, VNTVFifth Third Bancorp prepays $1B term debt, takes $134M pre-tax charge
Fifth Third (FITB) sold a total of 13.7M shares of Vantivís (VNTV) Class A common stock. The sale represents approximately 16.3% of Fifth Thirdís ownership position in Vantiv. Fifth Third expects to recognize a pre-tax gain of approximately $155M, approximately $100M after-tax, during Q4. Fifth Third has prepaid the $1B of FHLB term debt that was scheduled to mature on January 5, 2016. This action resulted in a prepayment charge of $134M pre-tax. Fifth Third expects net interest savings through the maturity date of approximately the same amount. This would represent approximately $40M-$45M in annual net interest income benefit, or approximately 4 bps benefit to net interest margin.
News For FITB;VNTV From The Last 14 Days
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July 21, 2014
16:40 EDTFITBFifth Third Bancorp in share repurchase pact with Morgan Stanley
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10:02 EDTFITBOn The Fly: Analyst Upgrade Summary
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05:39 EDTFITBFifth Third Bancorp upgraded to Outperform from Neutral at RW Baird
RW Baird upgraded Fifth Third Bancorp to Outperform citing the recent pullback in shares. The firm raised its price target for the stock to $23 from $22.
July 17, 2014
09:52 EDTFITBFifth Third Bancorp says committed to achieving positive operating leverage
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09:20 EDTFITBFifth Third Bancorp sees modest net interest income growth for FY14
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06:37 EDTFITBFifth Third Bancorp reports Q2 EPS 49c, consensus 43c
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July 16, 2014
17:29 EDTVNTVVantiv initiated with a Market Perform at BMO Capital
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