Last $20.99 USD
Change Today -0.015 / -0.07%
Volume 3.4M
FITB On Other Exchanges
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As of 11:41 AM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

fifth third bancorp (FITB) Snapshot

Open
$20.98
Previous Close
$21.00
Day High
$21.22
Day Low
$20.94
52 Week High
03/21/14 - $23.90
52 Week Low
04/23/13 - $16.22
Market Cap
17.9B
Average Volume 10 Days
9.5M
EPS TTM
$1.77
Shares Outstanding
851.5M
EX-Date
03/27/14
P/E TM
11.9x
Dividend
$0.48
Dividend Yield
2.27%
Current Stock Chart for FIFTH THIRD BANCORP (FITB)

fifth third bancorp (FITB) Related Businessweek News

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fifth third bancorp (FITB) Details

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. The Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. The Branch Banking segment provides a range of deposit, loan, and lease products to individuals and small businesses. This segment offers checking and savings accounts, home equity loans and lines of credit, credit cards, and loans for automobiles and personal financing needs, as well as cash management services. The Consumer Lending segment is engaged in the mortgage and home equity lending activities, such as origination, retention, and servicing of mortgage and home equity loans or lines of credit; and other indirect lending activities, including loans to consumers through mortgage brokers and automobile dealers. The Investment Advisors segment offers various investment alternatives for individuals, companies, and not-for-profit organizations. It offers retail brokerage services to individual clients, and broker dealer services to the institutional marketplace. This segment also provides asset management services; holistic strategies to affluent clients in wealth planning, investing, insurance, and wealth protection; and advisory services for institutional clients comprising states and municipalities. As of February 5, 2014, the company operated 1,313 full-service banking centers, including 102 Bank Mart locations, as well as 2,607 automated teller machines. Fifth Third Bancorp was founded in 1862 and is headquartered in Cincinnati, Ohio.

19,080 Employees
Last Reported Date: 04/17/14
Founded in 1862

fifth third bancorp (FITB) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Membe...
Total Annual Compensation: $1.0M
President, Chief Operating Officer and Chief ...
Total Annual Compensation: $695.4K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $313.4K
Chief Risk & Credit Officer and Executive Vic...
Total Annual Compensation: $1.3M
Senior Executive Vice President
Total Annual Compensation: $570.0K
Compensation as of Fiscal Year 2013.

fifth third bancorp (FITB) Key Developments

Fifth Third Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge-Offs for the First Quarter Ended March 31, 2014; Provides Tax Rate Guidance for the Year 2014

Fifth Third Bancorp reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company's net income attributable to Bancorp was $318 million versus net income of $402 million in the fourth quarter of 2013 and $422 million in the first quarter of 2013. After preferred dividends, net income available to common shareholders was $309 million, or $0.36 per diluted share, in the first quarter 2014, compared with $383 million, or $0.43 per diluted share, in the fourth quarter of 2013, and $413 million, or $0.46 per diluted share, in the first quarter of 2013. Significant items during the quarter included a $36 million negative valuation on the Vantiv warrant, litigation reserve charges of $51 million and a few other items that Tayfun will cover. These items reduced EPS in the quarter by approximately $0.07. Net income available to common shareholders was $309 million against $413 million a year ago. Return on average assets was 1.00% against 1.41% a year ago. Return on average common equity was 9.0% against 12.5% a year ago. Return on average tangible common equity was 11.0% against 15.4% a year ago. Net interest income (taxable equivalent) was $898 million against $893 million a year ago. Income before income taxes (taxable equivalent) was $443 million against $596 million a year ago. Book value per share was $16.27 and tangible book value per share of $13.40, up 3% from fourth quarter 2013 and up 6% from first quarter 2013. For the period, the company's net charge-offs of $168 million against $133 million a year ago. The first quarter of 2014 included three credits that together resulted in combined charge-offs of $60 million. The company expects the full year 2014 effective tax rate to be in the 27% to 27.5% range.

Fifth Third Bancorp Announces Board Changes

Fifth Third Bancorp announced that its Board of Directors has elected James P. Hackett as the non-executive chairman of the Board following the retirement of William Isaac at the Annual Meeting of the Shareholders. Additionally, the Board elected Marsha C. Williams as the lead director of the Board to replace Hackett. Hackett is vice chair of the board of directors of Steelcase Inc., a manufacturer of office systems. He retired from the CEO role at Steelcase in February 2014, after overseeing all domestic and international operations of the company for more than 19 years. Williams is the retired senior vice president and chief financial officer for Orbitz Worldwide Inc. Williams also previously served as executive vice president and CFO of Equity Office Properties Trust.

Fifth Third Bancorp Announces Executive Changes

Fifth Third Bancorp announced that Steven Alonso, most recently executive vice president and head of the Consumer Bank, will take on a new role as regional president of a newly created Fifth Third Bank (Indiana) affiliate. Alonso will lead Fifth Third's operations within the state of Indiana under the new Fifth Third Bank (Indiana) affiliate, encompassing the Bank's Southern and Central Indiana affiliates. He will continue to report to Greg Carmichael, president and chief operating officer for Fifth Third Bancorp. Alonso joined Fifth Third Bank in November 2008, and prior to his role as head of the Consumer Bank, he served as executive vice president and head of Mortgage and Consumer Lending. He also has been responsible for Business Banking for the Bancorp. Chad Borton, former senior vice president and Head of the Retail Bank will now become executive vice president and Head of the Consumer Bank, succeeding Alonso and reporting to Carmichael. Prior to joining Fifth Third in July 2012, Borton held several senior management positions at JP Morgan Chase, including Consumer Bank chief financial officer and head of the Retail Distribution Network. Replacing Borton as Head of the Retail Bank is Mike Butera, former senior vice president and Retail Executive for Fifth Third's Cincinnati affiliate. Butera joined the Bank in 2003 as the Retail CFO and also served as managing director of Distribution Strategy and managing director in the Strategic Planning group.

 

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Industry Analysis

FITB

Industry Average

Valuation FITB Industry Range
Price/Earnings 11.0x
Price/Sales 2.9x
Price/Book 1.3x
Price/Cash Flow 10.3x
TEV/Sales NM Not Meaningful
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