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Stock Market & Financial Investment News

News Breaks
January 29, 2013
05:43 EDTFITBFifth Third Bancorp upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Fifth Third Bancorp citing valuation and the company's capital flexibility. The firm raised its price target range for shares to $17-$19 from $16-$17.
News For FITB From The Last 14 Days
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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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July 16, 2015
17:02 EDTFITBFifth Third appoints Lars Anderson COO
Fifth Third Bancorp announced that Lars C. Anderson will become its EVP and COO and will be joining the Company on Aug. 3. Anderson will succeed Greg D. Carmichael, Fifth Thirdís president and COO, who has been named CEO effective Nov. 1. Anderson will report to Carmichael. Anderson joins Fifth Third from Comerica, where he was vice chairman, Business Bank, a member of the Management Executive Committee, and chair of that bankís executive credit committee.

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