- Fifth Third’s average deposits were $167.19 billion, falling short of the estimate of $169.12 billion.
- Average portfolio loans and leases stood at $116.89 billion.
- Net interest income (FTE) was reported at $1.39 billion, just below the estimate of $1.4 billion.
- Net interest margin was slightly higher at 2.88%, compared to the estimate of 2.83%.
- EPS was reported at 81 cents.
- Provisions for credit losses amounted to $97 million, which was lower than the estimated $102.5 million.
- Net credit recoveries were $144 million, which exceeded the expected charge-off of $141.8 million.
- Common equity Tier 1 ratio was 10.6%, slightly above the estimate of 10.5%.
- The efficiency ratio was reported at 58.5%, higher than the estimate of 57.3%.
- Tier 1 ratio met expectations at 11.9%.
- Adjusted non-interest income was at $717 million, close to the estimate of $717.5 million.
- Non-interest expenses were $1.22 billion, slightly above the estimated $1.21 billion.
- Compensation expenses were $656 million, nearly matching the estimate of $658.9 million.
- Analyst ratings include 13 buys, 11 holds, and zero sells.
A look at Fifth Third Ban Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to Smartkarma Smart Scores, Fifth Third Bancorp shows a promising long-term outlook with solid scores across various key factors. With high scores in value and dividend, the company demonstrates strong fundamentals in terms of its financial health and ability to provide returns to investors. Additionally, its momentum score indicates a positive trend in the company’s performance.
While Fifth Third Bancorp scores lower in resilience and growth factors, the overall outlook remains optimistic based on the Smart Scores assessment. As a diversified financial services company operating in key regions of the United States, including retail and commercial banking, investment advisory, and data processing, Fifth Third Bancorp is positioned for continued growth and stability in the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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