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Stock Market & Financial Investment News

News Breaks
May 29, 2014
08:19 EDTVNTV, FITBFifth 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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January 26, 2015
12:24 EDTVNTVVantiv names Kim Martin as Chief Human Resources Officer
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07:45 EDTFITBFifth Third Bancorp to buy back $180M of stock from Wells Fargo
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January 22, 2015
10:03 EDTFITBOn the Fly: Analyst Downgrade Summary
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09:08 EDTFITBFifth Third Bancorp price target lowered to $21 from $24 at Janney Capital
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08:22 EDTFITBFifth Third Bancorp downgraded to Market Perform at FBR Capital
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08:07 EDTVNTVVantiv called a top pick for 2015 at Jefferies
Jefferies calls Vantiv a top pick for 2015 but notes the consensus estimates for 2015 may be slightly too high. The firm thinks the company's 2015 guidance could be convsertaive, and it recommends using any share pullback following the earnings report on February 12 as a buying opportunity. It keeps a Buy rating on the stock with a $40 price target.
06:13 EDTFITBFifth Third Bancorp downgraded to Market Perform from Outperform at FBR Capital
January 21, 2015
16:35 EDTFITBOn The Fly: Closing Wrap
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09:50 EDTFITBFifth Third Bancorp says seeing pick-up in mortgage apps early in quarter
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09:34 EDTFITBFifth Third Bancorp sees achieving FY15 efficiency ratio in "low-60s"
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09:30 EDTFITBFifth Third Bancorp sees FY15 total revenue to exceed FY14 core revenues
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09:21 EDTFITBFifth Third Bancorp says pleased with credit metrics as 2015 begins
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09:16 EDTFITBOn The Fly: Pre-market Movers
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09:08 EDTFITBFifth Third Bancorp says facing near-term headwinds like others in industry
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07:27 EDTFITBFifth Third Bancorp says sees lower NII in Q1
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06:32 EDTFITBFifth Third Bancorp reports Q4 EPS 43c, consensus 42c
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January 20, 2015
15:21 EDTFITBNotable companies reporting before tomorrow's open
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