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Stock Market & Financial Investment News

News Breaks
May 29, 2014
08:19 EDTFITB, VNTVFifth Third Bancorp announces expected impact of Vantiv share sale
Vantiv (VNTV) recently conducted a secondary offering of 5.78 million shares of Class A Common Stock being sold on behalf of Fifth Third (FITB). Fifth Third says "The sale will result in an approximate 12% reduction in our ownership position in Vantiv (excluding the warrant noted below). Our purpose in the sale is to continue the process of monetizing the remaining portion of our stake in Vantiv in a considered, orderly fashion over time. Upon the settlement of this transaction, we would expect to recognize a pre-tax gain of approximately $125M during 2Q14. Following the settlement, Fifth Third would continue to hold approximately 43 million Class B units of Vantiv Holding, LLC, which may be exchanged for Class A common stock of Vantiv, Inc. on a one-for-one basis, as well as a warrant that is exercisable and exchangeable into Vantiv Inc. Class A Common Stock. These securities are subject to certain terms and restrictions. Fifth Third would have a remaining economic interest of approximately 22.8% of Vantivís future earnings. Our interest is accounted for under the equity method, and these earnings would be reduced reflecting the reduction in our ownership position as a result of the sale. Prior to this transaction, the carrying value of Fifth Thirdís investment in Vantiv Holding, LLC was $437M as of March 31. As previously announced on March 26, under our current capital plan, as to which the Federal Reserve provided a non-objection in its 2014 Comprehensive Capital Analysis and Review process, we may provide for the repurchase of shares of Fifth Third common stock in an amount up to any after-tax gains realized by Fifth Third from the sale of Vantiv shares."
News For FITB;VNTV From The Last 14 Days
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July 29, 2015
07:09 EDTVNTVVantiv sees Q3 adjusted EPS 54c-56c, consensus 55c
Sees Q3 revenue $410M-$415M, consensus $409M.
07:08 EDTVNTVVantiv raises FY15 adjusted EPS view to $2.15-$2.20, consensus $2.13
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07:07 EDTVNTVVantiv reports Q2 adjusted EPS 56c, consensus 54c
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July 28, 2015
15:21 EDTVNTVNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 85c... Altria (MO), consensus 71... General Dynamics (GD), consensus $2.06... Anthem (ANTM), consensus $2.75... Praxair (PX), consensus $1.46... Northrop Grumman (NOC), consensus $2.36... McKesson (MCK), consensus $2.91... Eaton (ETN), consensus $1.13... Humana (HUM), consensus $1.63... Hilton (HLT), consensus 23c... International Paper (IP), consensus 92c... Rockwell Automation (ROK), consensus $1.54... Jarden (JAH), consensus 59c... Quintiles (Q), consensus 70c... Tableau Software (DATA), consensus 4c... Garmin (GRMN), consensus 82c... Vantiv (VNTV), consensus 54c... ADT (ADT), consensus 49c.
July 27, 2015
16:22 EDTFITBFifth Third releases results of 2015 Dodd-Frank Stress Test
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July 22, 2015
10:01 EDTFITBOn The Fly: Analyst Downgrade Summary
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09:35 EDTFITBFifth Third downgraded to Neutral from Buy at Citi
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July 21, 2015
09:43 EDTFITBFifth Third says fundamental drivers continue to be healthy
09:28 EDTFITBFifth Third sees 'stable' NIM in 2H vs. Q1
Sees CEO transition going "smoothly." Says "pleased" with core trends, though environment continues to challenge banks. Says "comfortable" with current portfolio. Says plans to close 105 branches by the middle of 2016. Sees $65M in savings from plan, $5M than original expectations. Updated outlook "not materially different" from January, April outlook. Says "comfortable" with FY NII expectations. Expects NII to grow y/y, sees Q3 NII slightly higher than Q2; sees NII growing in Q4 over Q3. Sees NIM "stable" in 2H vs. Q1, doesn't expect NIM to widen further in Q3. Sees 2H NIM stable with 1H. Sees Q3 mortgage banking net revenue somewhat below Q2, but above last year's Q3. Sees strong 2H for total fee income. Sees 2H IT expenses about 10% higher than 1H. Sees core expenses up in Q3 vs. Q2, driven by marketing. Sees total expenses in 2H about 2.5% higher than 1H. Comments made on the Q2 earnings conference call.
06:43 EDTFITBFifth Third sees $155M share repurchase completed on or before July 28
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06:33 EDTFITBFifth Third reports Q2 EPS 36c, consensus 38c
Reports Q2 return on assets of 0.90%, return on average common equity of 8.1%, return on average tangible common equity of 9.7%. Reports Q2 pre-povision revenue of $496M. Reports Q2 net charge-offs declined 15%. Reports Common equity Tier 1 ratio of 9.41%. Reports Tier 1 risk-based capital ratio of 10.49%. Reports tangible common equity ratio of 8.51%. Reports book value per share of $17.62.
July 20, 2015
15:01 EDTFITBNotable companies reporting before tomorrow's open
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