Latest news with #FITB
Yahoo
4 days ago
- Business
- Yahoo
Fifth Third Rewards Shareholders With New Share Repurchase Program
Fifth Third Bancorp's FITB board of directors has approved a new share repurchase authorization of up to 100 million shares. The new authorization replaces the previous authorization announced in June 2019, under which 11.8 million shares remained. The new repurchase authorization offers flexibility, allowing stock buybacks without a set expiration or price limit. The company may conduct repurchases through open-market transactions or privately negotiated transactions, including Rule 10b5-1 programs. The repurchase program may be modified, suspended, or discontinued at any time based on market conditions, legal requirements, and other uncertainties. Fifth Third pays quarterly dividends regularly. In September 2024, the company announced a 5.7% increase in its quarterly dividend to 37 cents per share. Over the last five years, the company increased its quarterly dividend four times. It has a payout ratio of 44%. Considering yesterday's closing price of $38.32, its annualized dividend yield is 3.86%. Fifth Third Bancorp dividend-yield-ttm | Fifth Third Bancorp Quote The company maintains a decent liquidity position. As of March 31, 2025, the company had cash and due from banks of $17.9 billion, while cash levels remain decent relative to total debt of $19.9 billion, with $5.5 billion in short-term borrowings. Further, as of March 31, 2025, Fifth Third's common equity tier (CET) 1 ratio was 10.45%. This offers room for the company to enhance its capital distribution plans. Hence, a decent balance sheet position, along with its earnings strength, indicates that FITB's capital distributions are sustainable. Shares of FITB have gained 6.2% compared with the industry's 17.8% growth over the past year. Image Source: Zacks Investment Research Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. In May 2025, MVB Financial Corp. MVBF authorized a $10 million stock repurchase program. The company plans to execute buybacks through open-market transactions, block trades, and privately negotiated deals. With a strong liquidity position, holding $251 million in cash and cash equivalents, MVBF remains committed to enhancing shareholder value through capital distribution activities. Likewise, in March 2025, KeyCorp KEY announced a $1 billion share repurchase plan, set to begin in the second half of the year. The company has not actively repurchased shares in recent years due to macroeconomic challenges, but is now taking steps to strengthen its capital ratios. KEY raised its quarterly dividend by 5.1% to 20.5 cents per share in 2022 and has maintained that level since. While the company initially benefited from the Federal Reserve's rate hikes (which started in March 2022), rising funding and deposit costs later strained its financial and capital ratios. 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 KeyCorp (KEY) : Free Stock Analysis Report Mvb Financial Corp. (MVBF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
12-06-2025
- Business
- Yahoo
Fifth Third Bancorp Announces Cash Dividends
CINCINNATI, June 12, 2025--(BUSINESS WIRE)--Today, Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series H preferred shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares. Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its common shares of $0.37 per share for the second quarter of 2025. The dividend is payable on July 15, 2025 to shareholders of record as of June 30, 2025. Fifth Third also declared a cash dividend on its 5.10% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series H (3 month Term SOFR plus 3.033% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $479.7975 per preferred share, which equates to approximately $19.1919 for each depositary share. Each depositary share represents a 1/25th ownership interest in a share of Series H Preferred Stock. The Series H dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. Fifth Third also declared a cash dividend on its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (3 month Term SOFR plus 3.71% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share; Nasdaq: FITBI), at the rate of $522.5675 per preferred share, which equates to approximately $0.52257 for each depositary share. Each depositary share represents a 1/1000th ownership interest in a share of Series I Preferred Stock. The Series I dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. Fifth Third also declared a cash dividend on its 4.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series J (3 month Term SOFR plus 3.129% plus 0.26161% [the ARRC-recommended LIBOR-SOFR spread adjustment] per preferred share), at the rate of $485.94 per preferred share, which equates to approximately $19.4376 for each depository share. Each depositary share represents a 1/25th ownership interest in a share of Series J Preferred Stock. The Series J dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. Fifth Third also declared a cash dividend on its 4.95% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K (Nasdaq: FITBO), at the rate of approximately $309.375 per preferred share, which equates to approximately $0.30938 for each depositary share. Each depositary share represents a 1/1000th ownership interest in a share of Series K Preferred Stock. The Series K dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. Fifth Third also declared a cash dividend on its 4.50% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, at the rate of $281.25 per preferred share, which equates to approximately $11.25 for each depositary share. Each depositary share represents a 1/25th ownership interest in a share of Series L Preferred Stock. The Series L dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. Fifth Third also declared a cash dividend on its 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A (Nasdaq: FITBP), at the rate of $15.00 per preferred share, which equates to approximately $0.3750 for each depositary share. Each depositary share represents a 1/40th ownership interest in a share of Class B Series A Preferred Stock. The Class B Series A dividend is payable on June 30, 2025 to shareholders of record as of June 26, 2025. 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 Category: Dividends View source version on Contacts Matt Curoe (Investor Relations) | 513-534-2345Jennifer Hendricks Sullivan (Media Relations) | 614-744-7693 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
02-06-2025
- 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
