NASDAQ:FITB - Nasdaq - US3167731005 - Common Stock
FIFTH THIRD BANCORP
NASDAQ:FITB (1/21/2025, 8:00:07 PM)
Premarket: 45.01 +0.15 (+0.33%)44.86
+0.52 (+1.17%)
Industry Rank | Sector Rank | ||
---|---|---|---|
PM (TTM) | 24.4% | ||
ROA | 0.96% | ||
ROE | 9.94% | ||
Debt/Equity | 0.85 |
Wall Street saw a strong preference for small and mid-cap equities, with the Russell 2000 index leading the market as investors bet on more domestic-friendly policies following Donald Trump's inauguration on Jan. 20 as the 47th U.S. president.
FITB's Q4 2024 earnings benefit from an increase in NII, loan balance and strong capital position. Yet, weak asset quality remains a concern.
While the top- and bottom-line numbers for Fifth Third Bancorp (FITB) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
During the fourth quarter, the bank reported adjusted earnings of $0.90 per share, excluding charges of $0.05 per share. Analysts were expecting an adjusted profit of $0.87 per share.
Expectations of additional rate cuts and business-friendly policies under President Donald Trump have fueled optimism for a further revival in investment banking. Fifth Third Bancorp's capital markets fees jumped 16% from the year earlier to $123 million, while its wealth and asset management revenue rose 11% to $163 million. Fifth Third's net interest income (NII), the difference between what banks pay customers on deposits and earn as interest on loans, rose 1.5% to $1.44 billion.
Fifth Third Bancorp (FITB) delivered earnings and revenue surprises of 3.45% and 1.96%, respectively, for the quarter ended December 2024. Do the numbers hold clues to what lies ahead for the stock?
Fifth Third Bancorp is a bank holding company, which engages in the provision of diversified financial services. The company is headquartered in Cincinnati, Ohio and currently employs 18,579 full-time employees. The company operates three main businesses: Commercial Banking, Consumer and Small Business Banking and Wealth & Asset Management. The Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. The Consumer and Small Business Banking segment includes residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. The Wealth and Asset Management segment provides a full range of wealth management solutions, such as wealth planning, investment management, banking, insurance, trust and estate services.
FIFTH THIRD BANCORP
38 Fountain Sq Plz, Fifth Third Center
Cincinnati OHIO 45263 US
CEO: Greg D. Carmichael
Employees: 18579
Company Website: https://www.53.com/
Investor Relations: https://ir.53.com/home/default.aspx
Phone: 15135795300
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