Latest news with #FITB
Business Wire
6 days ago
- Business
- Business Wire
Fifth Third Bank, National Association, Names Scott Daigle as North Florida President, Cary Putrino as Region Chairman
TAMPA, Fla.--(BUSINESS WIRE)--Fifth Third Bank, National Association, (Nasdaq: FITB) has announced Scott Daigle as North Florida region president. Daigle succeeds Cary Putrino, who has transitioned into a new role as region chairman in North Florida. Putrino will focus on business development, special projects and brand ambassadorship. 'Cary has exemplified what strong regional leadership looks like—building trusted relationships, fostering deep community engagement and consistently prioritizing client success,' said Tom Partridge, group regional president. 'As he transitions to new responsibilities, Cary has been instrumental in helping identify Scott as a strong leader who will elevate our impact across North Florida.' As North Florida region president, Daigle oversees the strategic direction and growth of Fifth Third's commercial banking, wealth and asset management and commercial payments businesses across key markets including Tampa Bay, Sarasota, Orlando, North Central Florida and Jacksonville. 'I am honored to step into this role and collaborate with our talented team to continue advancing our growth strategy and delivering exceptional service to our clients. Together, we will remain focused on supporting the financial goals of our customers and making a meaningful impact in the North Florida region,' said Daigle. With 30 years of banking and commercial lending experience, Daigle has held various leadership positions and has extensive experience in advising companies with expansion, acquisitions and general working capital needs. Prior to joining Fifth Third, he served as the North Florida commercial market president at TD Bank. Daigle holds a bachelor's degree in economics from Radford University and serves on the executive board of the Tampa Bay Chamber and the board of Habitat for Humanity Tampa Bay Gulfside. 'Scott brings a wealth of experience in leading high-performing teams and serving clients with excellence,' said Partridge. 'His leadership, insight and energy will be instrumental to accelerate our growth across the region.' Fifth Third has 97 full-service banking centers and nearly 700 employees across North Florida. In March of this year, J.D. Power named Fifth Third Bank No. 1 for Retail Banking Customer Satisfaction in Florida for the second year in a row as part of its 2025 U.S. Retail Banking Satisfaction Study SM. The Study also noted that customers rated Fifth Third No. 1 for account offerings and value. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies ® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Yahoo
22-04-2025
- Business
- Yahoo
Fifth Third price target lowered to $44 from $52 at Truist
Truist analyst Brian Foran lowered the firm's price target on Fifth Third (FITB) to $44 from $52. The firm lowered its 2025 and 2026 EPS estimates to $3.50 and $4.15, respectively, given increased volatility in fees, slower loan and deposit growth, and higher provisions from an increased recession risk. Truist keeps a Buy rating on the shares given Fifth Third's differentiated southeast growth story and diversified commercial fee capabilities. Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on FITB: Disclaimer & DisclosureReport an Issue Fifth Third price target lowered to $42 from $45 at DA Davidson Hold Rating for Fifth Third Bancorp Amid Mixed Economic Signals and Adjusted Growth Guidance Fifth Third price target lowered to $42 from $47 at Keefe Bruyette Fifth Third price target lowered to $51 from $56 at Barclays Fifth Third price target lowered to $48 from $50 at Wells Fargo Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
Fifth Third Bancorp (FITB) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amid ...
Earnings Per Share (EPS): $0.71, or $0.73 excluding certain items. Pre-Provision Net Revenue (PPNR): Increased by 5% year over year. Adjusted Return on Equity: 11.2%. Tangible Book Value Per Share: Grew 15% over the prior year. Total Loans Growth: 3% year over year. Net Interest Income (NII): Grew 4% over the prior year. Net Interest Margin: Expanded for the fifth consecutive quarter. Commercial Payments Revenue: Grew 6% year over year. Wealth and Asset Management Revenue: Grew 7%, supported by 10% growth in AUM. Adjusted Non-Interest Income: Increased 1% compared to the prior year. Adjusted Non-Interest Expense: Flat compared to the prior year. Net Charge-Off Ratio: 46 basis points, flat sequentially. Allowance for Credit Losses (ACL) Coverage Ratio: 2.07%. Common Equity Tier 1 (CET1) Ratio: 10.5%. Share Repurchase: $225 million executed, reducing share count by 5.2 million shares. Warning! GuruFocus has detected 5 Warning Sign with FITB. Release Date: April 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Fifth Third Bancorp (NASDAQ:FITB) reported earnings per share of $0.71, or $0.73 excluding certain items, exceeding consensus estimates. The company achieved a 5% year-over-year growth in pre-provision net revenue (PPNR) and an adjusted return on equity of 11.2%. Total loans grew 3% year over year, driven by strong middle market C&I production and balanced growth across consumer secured lending categories. Net interest income (NII) grew 4% over the prior year as net interest margins expanded for the fifth consecutive quarter. Fifth Third Bancorp (NASDAQ:FITB) maintained a strong liquidity profile with a loan to core deposit ratio of 75% and full Category 1 LCR compliance at 127%. Average core deposits decreased 2% sequentially, driven primarily by normal seasonality in commercial deposits. Capital markets fees declined by 7% from the year-ago period, primarily due to a slowdown in loan syndications and M&A advisory revenue. The net charge-off ratio was 46 basis points, with commercial charge-offs increasing by 3 basis points sequentially. The company's NPA ratio increased 10 basis points sequentially to 81 basis points, driven by two ABL credits in the C&I portfolio. Fifth Third Bancorp (NASDAQ:FITB) anticipates continued economic uncertainty impacting wealth and capital markets revenue, with a cautious outlook on fee income growth. Q: Tim, can you share your interactions with commercial customers regarding the economic environment and tariffs? Are they in a better position today due to lessons learned from the pandemic? A: Timothy Spence, CEO: The magnitude of the tariff announcement caught many by surprise. Customers are split on whether tariffs are a negotiating tactic or a long-term issue. Many are pushing prices to cover tariffs, and those with domestic supply chains are also adjusting prices due to expected volume losses in foreign markets. Customers are not planning layoffs, suggesting unemployment may remain stable despite economic challenges. Q: In a lower growth environment or potential recession, aside from credit, what areas are you focusing on to manage effectively? A: Timothy Spence, CEO: Aside from credit, deposit funding and expenses are critical focus areas. We maintain expense discipline, ensuring expenses do not grow based on market benefits. This approach allows us to manage costs effectively, even if capital markets do not recover as expected. Q: Can you provide details on the ABL loans that drove NPLs higher and the outlook for more losses in the C&I book? A: Greg Schroeck, Chief Credit Officer: Two ABL loans primarily drove the NPA increase. Our ABL portfolio is well-secured and has had minimal loss over the years. We have good visibility on resolving 40% of our NPAs in the next few quarters, and our overall portfolio remains in excellent shape. Q: How are you managing costs without impairing investments and expansion plans? A: Bryan Preston, CFO: We focus on areas with higher variable-based compensation and find savings in operational activities and vendor spending. We continue to invest in branch builds, customer acquisition, and technology while managing costs effectively. Q: Given the uncertainty and volatility, where do you want to manage your CET1 including AOCI numbers? A: Bryan Preston, CFO: We expect to end the year around 9% CET1, based on the forward curve. Our AFS portfolio continues to roll in, and we expect AOCI to accrete down over time, providing stability in our capital position. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
How To Earn $500 A Month From Fifth Third Bancorp Stock Ahead Of Q1 Earnings
Fifth Third Bancorp (NASDAQ:FITB) will release its first-quarter financial results before the opening bell on Thursday, April 17. Analysts expect the bank to report quarterly earnings at 70 cents per share. Fifth Third Bancorp projects quarterly revenue of $2.16 billion, compared to $2.1 billion a year earlier, according to data from Benzinga Pro. On April 7, Baird analyst David George upgraded Fifth Third Bancorp from Neutral to Outperform. With the recent buzz around Fifth Third, some investors may also be eyeing potential gains from the company's dividends. As of now, Fifth Third Bancorp offers an annual dividend yield of 4.22%, a quarterly dividend amount of 37 cents per share ($1.48 a year). To figure out how to earn $500 monthly from Fifth Third Bancorp, we start with the yearly target of $6,000 ($500 x 12 months). Next, we take this amount and divide it by Fifth Third Bancorp's $1.48 dividend: $6,000 / $1.48 = 4,054 shares. So, an investor would need to own approximately $142,174 worth of Fifth Third Bancorp, or 4,054 shares to generate a monthly dividend income of $500. Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $1.48 = 811 shares, or $28,442 to generate a monthly dividend income of $100. View more earnings on FITB Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price fluctuate over time. The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change. For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60). Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40). Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease. FITB Price Action: Shares of Fifth Third Bancorp gained by 1.4% to close at $35.07 on More: UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article How To Earn $500 A Month From Fifth Third Bancorp Stock Ahead Of Q1 Earnings originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
Are You Looking for a High-Growth Dividend Stock?
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns. Headquartered in Cincinnati, Fifth Third Bancorp (FITB) is a Finance stock that has seen a price change of -19.96% so far this year. Currently paying a dividend of $0.37 per share, the company has a dividend yield of 4.37%. In comparison, the Banks - Major Regional industry's yield is 4.19%, while the S&P 500's yield is 1.68%. In terms of dividend growth, the company's current annualized dividend of $1.48 is up 2.8% from last year. Over the last 5 years, Fifth Third Bancorp has increased its dividend 4 times on a year-over-year basis for an average annual increase of 7.98%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Fifth Third Bancorp's current payout ratio is 44%, meaning it paid out 44% of its trailing 12-month EPS as dividend. Looking at this fiscal year, FITB expects solid earnings growth. The Zacks Consensus Estimate for 2025 is $3.57 per share, with earnings expected to increase 5.93% from the year ago period. From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout. High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, FITB is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of 3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fifth Third Bancorp (FITB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
