Latest news with #FifthThirdBancorp
Globe and Mail
4 days ago
- Business
- Globe and Mail
Senate Passes Stablecoin GENIUS Act: A Major Win for Large Banks?
On Tuesday, the Senate approved the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) to establish the first federal framework for dollar-pegged cryptocurrencies known as stablecoins. This is being considered a big victory for the U.S. crypto industry and large U.S. banks like Bank of America BAC, U.S. Bancorp USB and Fifth Third Bancorp FITB, which have been looking for favorable regulation before integrating stablecoins into their infrastructure. What is the GENIUS Act? The GENIUS Act, introduced in February 2025, after a public draft was released in October 2024, defines payment stablecoins as digital assets for payment or settlement that are pegged to a fixed value, require one-to-one reserves, and prohibit algorithmic stablecoins. It explicitly prevents them from being classified as securities and sets distinct regulatory limits—federal oversight for issuers with more than $10 billion in assets, and state regulation for smaller ones. It also mandates monthly reserve audits and anti-money laundering (AML) compliance. The Act is yet to receive approval from the House and President Trump before it can be turned into a legislative law. How Will the GENIUS Act Benefit Large US Banks & Other Firms? Stablecoins are viewed by their proponents as a more stable alternative to volatile cryptocurrencies, offering a secure way to store value by pegging them to assets like the U.S. dollar. Their rapid settlement and programmability could enhance cross-border payments and expand access to the dollar. However, critics remain concerned about potential risks, such as the threat of panic among investors and sudden mass withdrawals. If the legislation is passed in the House, it is likely to trigger a rise in new stablecoin issuers, as major traditional firms, including large banks and major retail chains like Amazon Inc. AMZN and Walmart Inc. WMT, are reportedly already considering the possibility of launching their own digital currencies. Last week, at an industry conference in New York, senior executives of Bank of America, Fifth Third Bancorp, and U.S. Bancorp stated that they are open to adopting stablecoins. Further, the Wall Street Journal reported last week that Amazon and Walmart are exploring stablecoin opportunities. This new wave of competition could disrupt the traditional payment infrastructure, specifically if merchants seek to get around conventional card networks like Visa and Mastercard. If stablecoins continue to gain traction, large global banks are set to benefit the most, given their solid liquidity positions. As stablecoins offer yield opportunities, traditional banks may need to increase deposit rates to stay competitive. While banks like Bank of America, Fifth Third and U.S. Bancorp are well-positioned to deal with the changes, many smaller regional banks could face greater challenges. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> 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 Inc. (AMZN): Free Stock Analysis Report Bank of America Corporation (BAC): Free Stock Analysis Report Fifth Third Bancorp (FITB): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report U.S. Bancorp (USB): Free Stock Analysis Report
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
Business Wire
6 days ago
- Business
- Business Wire
Fifth Third Bancorp Announces Share Repurchase Authorization
CINCINNATI--(BUSINESS WIRE)--Today, Fifth Third Bancorp announced that its Board of Directors approved a new share repurchase authorization of up to 100 million shares, which replaces the previous authorization from 2019 under which 11.8 million shares remain. The new repurchase authorization does not have an expiration date, does not include specific price targets, may be executed through open market purchases or one or more private negotiated transactions, including Rule 10b5-1 programs, and may be suspended at any time. All future capital distributions are subject to evaluation of Fifth Third's performance, the state of the economic environment, market conditions, regulatory factors, and other risks and uncertainties and approval by the Board of Directors at any given time. 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
Yahoo
6 days ago
- Business
- Yahoo
Fifth Third Bancorp Announces Share Repurchase Authorization
CINCINNATI, June 16, 2025--(BUSINESS WIRE)--Today, Fifth Third Bancorp announced that its Board of Directors approved a new share repurchase authorization of up to 100 million shares, which replaces the previous authorization from 2019 under which 11.8 million shares remain. The new repurchase authorization does not have an expiration date, does not include specific price targets, may be executed through open market purchases or one or more private negotiated transactions, including Rule 10b5-1 programs, and may be suspended at any time. All future capital distributions are subject to evaluation of Fifth Third's performance, the state of the economic environment, market conditions, regulatory factors, and other risks and uncertainties and approval by the Board of Directors at any given time. 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: Share Repurchases View source version on Contacts Matt Curoe (Investor Relations) | 513-534-2345Jennifer Hendricks Sullivan (Media Relations) | 614-744-7693
Yahoo
6 days ago
- Business
- Yahoo
Wells Fargo Hikes Fifth Third Bancorp (FITB) Price Target to $52
Fifth Third Bancorp (NASDAQ:FITB) is . On June 10, Wells Fargo analyst Whit Mayo reiterated the stock's 'Overweight' rating and hiked the price target to $52 from $48. RomarioIen/ The adjustment underscores growing confidence in the company's performance. It also aligns with previous evaluations that affirmed expectations of future growth. Fifth Third Bancorp continues to elicit strong interest in the market owing to its strategic position in the financial sector. Fifth Third Bancorp (NASDAQ:FITB) is a financial services company that provides a wide range of banking, lending, and investment products and services to individuals, businesses, and financial institutions. While we acknowledge the potential of FITB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. 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
