- Average deposits of Fifth Third Bank were reported at $167.20 billion, which is close to the estimated $167.32 billion.
- The bank’s average portfolio loans and leases totaled $116.83 billion.
- Net interest income on a full tax equivalent basis was $1.43 billion, slightly above the estimate of $1.42 billion.
- Net interest margin reported at 2.9%, surpassing the estimate of 2.86%.
- Earnings per share (EPS) were 78 cents.
- The provision for credit losses amounted to $160 million, almost matching the expected $160.4 million.
- Net credit recoveries reached $142 million.
- The Common Equity Tier 1 ratio stood at 10.8%, exceeding the estimate of 10.7%.
- Efficiency ratio recorded at 58.2%, higher than the estimated 56.2%.
- The Tier 1 capital ratio was consistent with estimates at 12.1%.
- Adjusted non-interest income was $748 million, above the expected $742 million.
- Non-interest expenses totaled $1.24 billion, slightly over the estimate of $1.22 billion.
- Compensation expenses were significantly higher at $690 million compared to the estimate of $653.4 million.
- Analyst recommendations include 12 buys and 11 holds, with no sells reported.
“`
A look at Fifth Third Ban Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 5 | |
| 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
Analysts using Smartkarma Smart Scores have evaluated Fifth Third Bancorp’s long-term outlook based on key factors. With a strong Momentum score of 5, the company shows promising growth potential and market momentum, indicating positive investor sentiment. Additionally, the Dividend score of 4 reflects a solid track record of rewarding shareholders, making it an attractive choice for income-oriented investors.
However, Fifth Third Bancorp’s overall outlook is tempered by a Resilience score of 2, suggesting some vulnerability to economic downturns or market fluctuations. While the company scores well in Value and Growth with scores of 3, it indicates a potential for improvement in these areas to enhance its overall performance in the long run. Nevertheless, with a diversified business model encompassing retail and commercial banking, along with investment advisory and data processing services, Fifth Third Bancorp remains a notable player in the financial services sector.
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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