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Fifth Third Bancorp (FITB.OQ)

FITB.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Fifth Third Bancorp Saya Entered Into New Share Repurchase Agreement Pursuant To Which Co Will Buy About $235 Mln Of Outstanding Common Stock
Thursday, 24 May 2018 

May 24 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP - ENTERED INTO NEW SHARE REPURCHASE AGREEMENT PURSUANT TO WHICH CO WILL BUY ABOUT $235 MILLION OF OUTSTANDING COMMON STOCK.FIFTH THIRD BANCORP SAYS REPURCHASING SHARES OF STOCK AS PART OF 100 MILLION SHARE REPURCHASE PROGRAM - SEC FILING.FIFTH THIRD BANCORP - EXPECTS SETTLEMENT OF TRANSACTION TO OCCUR ON OR BEFORE JUNE 18.  Full Article

MB Financial Says Merger Agreement Provides $151 Mln Fee Payable To Fifth Third Bancorp Upon Termination
Wednesday, 23 May 2018 

May 23 (Reuters) - Fifth Third Bancorp ::MB FINANCIAL - MERGER AGREEMENT PROVIDES $151 MILLION FEE PAYABLE BY CO TO FIFTH THIRD BANCORP UPON DEAL TERMINATION UNDER CERTAIN CIRCUMSTANCES.  Full Article

Fifth Third Bancorp To Merge With MB Financial in $4.7 Bln Deal
Monday, 21 May 2018 

May 21 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP TO MERGE WITH MB FINANCIAL, INC. CREATING A LEADING RETAIL AND COMMERCIAL FRANCHISE IN THE ATTRACTIVE CHICAGO MARKET.FIFTH THIRD BANCORP - DEAL FOR VALUED AT APPROXIMATELY $4.7 BILLION.FIFTH THIRD BANCORP - APPROXIMATELY 90 PERCENT OF CONSIDERATION WILL BE IN STOCK WITH REST IN CASH.FIFTH THIRD BANCORP - COMMON SHAREHOLDERS OF MB FINANCIAL WILL RECEIVE $54.20 OF TOTAL CONSIDERATION.FIFTH THIRD BANCORP - 2 MEMBERS OF MB FINANCIAL'S BOARD OF DIRECTORS ARE EXPECTED TO JOIN FIFTH THIRD BANCORP BOARD.FIFTH THIRD BANCORP - TRANSACTION EXPECTED TO REDUCE FIFTH THIRD'S REGULATORY COMMON EQUITY TIER 1 (CET1) RATIO BY APPROXIMATELY 45 BASIS POINTS.FIFTH THIRD BANCORP - TOTAL CONSIDERATION CONSISTS OF 1.45 SHARES OF FIFTH THIRD STOCK AND $5.54 IN CASH FOR EACH SHARE OF MB FINANCIAL.FIFTH THIRD BANCORP - TRANSACTION IS EXPECTED TO REDUCE FIFTH THIRD'S REGULATORY COMMON EQUITY TIER 1 (CET1) RATIO BY APPROXIMATELY 45 BASIS POINTS.FIFTH THIRD BANCORP - EXPECT DEAL TO BE ACCRETIVE TO OPERATING EPS IN FIRST YEAR, WITH ACCRETION OF NEARLY 7 PERCENT IN SECOND YEAR.FIFTH THIRD BANCORP - INTENDS TO COMPLETE 2017 CCAR BUYBACK PLAN BY REPURCHASING UP TO $235 MILLION SHARES BEFORE BEGINNING PROXY SOLICITATION FOR DEAL.FIFTH THIRD BANCORP - EXPECT INVESTMENT TO GENERATE AN IRR OF APPROXIMATELY 18.5 PERCENT.FIFTH THIRD BANCORP - EXPECT DEAL TO ACCELERATE PROGRESS TOWARDS NORTHSTAR FINANCIAL TARGETS & ALSO RAISE THEM ABOVE PREVIOUS GUIDANCE.  Full Article

Fifth Third CFO Expects FY Total Expenses To Be At Lower End Of Guidance
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP CEO SAYS REMAIN ON TRACK TO ACHIEVE UPPER END OF REVISED ROTCE TARGET -CONF CALL.FIFTH THIRD BANCORP CFO SAYS ALL-IN IMPACT OF TAX REFORM HAS BEEN MODESTLY POSITIVE FOR THE QUARTER-CONF CALL.FIFTH THIRD BANCORP CFO SAYS EXPECT COMMERCIAL LEASES TO CONTINUE TO DECLINE ANOTHER $400 MILLION BY END OF 2018-CONF CALL.FIFTH THIRD BANCORP CFO SAYS EXPECT END-OF-PERIOD TOTAL COMMERCIAL PORTFOLIO TO GROW ABOUT 1% TO 1.5% SEQUENTIALLY IN Q2-CONF CALL.FIFTH THIRD BANCORP CFO SAYS CONTINUE TO EXPECT CARD BALANCE GROWTH IN MID- TO HIGH SINGLE DIGITS FOR 2018-CONF CALL.FIFTH THIRD BANCORP CFO SAYS FOR 2018, EXPECT END-OF-PERIOD LOAN GROWTH OF 1% TO 1.5% -CONF CALL.FIFTH THIRD BANCORP CFO SAYS NIM IN Q2 SHOULD BE APPROXIMATELY 3 TO 5 BASIS POINTS HIGHER COMPARED TO THE FIRST QUARTER-CONF CALL.FIFTH THIRD BANCORP CFO SAYS EXPECT Q2 NET INTEREST INCOME TO BE BETWEEN $1.025 BILLION TO $1.03 BILLION-CONF CALL.FIFTH THIRD BANCORP CFO SAYS EXPECT CORPORATE BANKING FEES TO INCREASE BETWEEN 20% AND 25% SEQUENTIALLY-CONF CALL.FIFTH THIRD BANCORP CFO SAYS FOR Q2 EXPECT FEES TO BE BETWEEN $575 MILLION AND $585 MILLION, FOR FY EXPECT FEES TO BE ABOUT $2.35 BILLION-CONF CALL.FIFTH THIRD BANCORP CFO SAYS EXPECT TOTAL EXPENSES TO BE AT LOWER END OF GUIDANCE OF $4 BILLION TO $4.1 BILLION IN 2018-CONF CALL.  Full Article

Fifth Third Bancorp Reports Q1 Earnings Per Share $0.97
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Fifth Third Bancorp ::Q1 EARNINGS PER SHARE $0.97.Q1 EARNINGS PER SHARE VIEW $0.48 -- THOMSON REUTERS I/B/E/S.RESULTS INCLUDED A NET POSITIVE $0.40 IMPACT ON REPORTED 1Q18 EPS.AT QUARTER-END TIER 1 COMMON RATIO WAS 10.82 PERCENT VERSUS 10.76 PERCENT REPORTED LAST YEAR.BOOK VALUE PER SHARE OF $21.68 AT QUARTER END, FLAT FROM 4Q17 AND UP 8% FROM 1Q17.QTRLY TAXABLE EQUIVALENT NET INTEREST INCOME OF $999 MILLION UP 6% FROM 1Q17.QTRLY NET CHARGE-OFFS (NCOS) OF $81 MILLION DOWN $8 MILLION FROM 1Q17.Q1 2018 PROVISION EXPENSE OF $23 MILLION COMPARED TO $74 MILLION IN 1Q17.AT QUARTER-END TIER 1 RISK BASED CAPITAL RATIO OF 11.95 PERCENT VERSUS 11.90 PERCENT REPORTED LAST YEAR.Q1 RESULTS INCLUDE $414 MILLION PRE-TAX STEP-UP GAIN FROM VANTIV MERGER WITH WORLDPAY.  Full Article

Fifth Third Bancorp Enters New Share Repurchase Agreement
Friday, 9 Feb 2018 

Feb 9 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP SAYS ‍ON FEB 8, CO ENTERED NEW SHARE REPURCHASE AGREEMENT WITH MORGAN STANLEY & CO. LLC - SEC FILING.FIFTH THIRD BANCORP - ‍PURSUANT TO NEW SHARE REPURCHASE AGREEMENT CO TO BUY ABOUT $318 MILLION OF OUTSTANDING COMMON STOCK​.FIFTH THIRD BANCORP - ‍NEW REPURCHASE AGREEMENT IS IN ADDITION TO ONE THAT CO ENTERED WITH MORGAN STANLEY & CO. LLC ON DEC 15, 2017 FOR $273 MILLION ​.  Full Article

Fifth Third Bancorp Sees Q1 NII (Fully-Taxable Equivalent Basis) In Range Of $975 Mln - $980 Mln
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP SEES Q1 NII (FULLY-TAXABLE EQUIVALENT BASIS) IN RANGE OF $975 MILLION - $980 MILLION.FIFTH THIRD BANCORP SEES FY 2018 NII (FTE) OF $4.0 BILLION - $4.07 BILLION - SEC FILING.FIFTH THIRD BANCORP SEES Q1-2018 NIM (FTE) TO BE UP IN RANGE OF 3 - 5 BPS FROM ADJUSTED Q4 2017.FIFTH THIRD BANCORP SEES FY2018 NIM (FTE) OF ABOUT 3.15% WITH TWO 2018 RATE HIKES (MAR & SEP).  Full Article

Fifth Third Bancorp Reports Q4 EPS Of $0.67
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Fifth Third Bancorp ::Q4 EARNINGS PER SHARE $0.67.Q4 EARNINGS PER SHARE VIEW $0.49 -- THOMSON REUTERS I/B/E/S.QTRLY RESULTS INCLUDE $220 MILLION INCOME TAX REDUCTION FROM A REMEASUREMENT OF DEFERRED TAX LIABILITY.‍TAXABLE EQUIVALENT NET INTEREST INCOME OF $963 MILLION IN Q4 OF 2017 WAS DOWN $14 MILLION, OR 1 PERCENT FROM PRIOR QUARTER​.QTRLY COMMON EQUITY TIER 1 RATIO 10.61 PERCENT VERSUS 10.59 PERCENT IN LAST QUARTER.‍QTRLY NET CHARGE-OFFS (NCOS) OF $76 MILLION, UP $8 MILLION FROM 3Q17 AND UP $3 MILLION FROM 4Q16.QTRLY BOOK VALUE PER SHARE OF $21.67, UP 2% FROM 3Q17; QTRLY TANGIBLE BOOK VALUE PER SHARE OF $18.10 UP 1% FROM 3Q17.QTRLY ‍TOTAL RISK-BASED CAPITAL 15.16% VERSUS 15.16% IN QUARTER ENDED SEPT 2017​.QTRLY ‍PROVISION FOR LOAN AND LEASE LOSSES $67 MILLION VERSUS $67 MILLION IN Q3.  Full Article

Fifth Third Bancorp Plans To Raise Its Minimum Hourly Wage To $15
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP - PLANS TO RAISE ITS MINIMUM HOURLY WAGE TO $15, AND DISTRIBUTE A ONE-TIME BONUS OF $1,000 FOR MORE THAN 13,500 EMPLOYEES.  Full Article

Fifth Third Bancorp Says On Dec 15, Co Entered Into Share Repurchase Agreement With Morgan Stanley & Co
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Fifth Third Bancorp ::FIFTH THIRD BANCORP SAYS ON DEC 15, CO ENTERED INTO SHARE REPURCHASE AGREEMENT WITH MORGAN STANLEY & CO - SEC FILING.FIFTH THIRD BANCORP - PURSUANT TO REPURCHASE AGREEMENT CO WILL PURCHASE ABOUT $273 MILLION OF ITS OUTSTANDING COMMON STOCK.FIFTH THIRD BANCORP - EXPECTS SETTLEMENT OF TRANSACTION TO OCCUR ON OR BEFORE MARCH 19, 2018..FIFTH THIRD BANCORP - WILL PAY $273 MILLION TO MSCO ON DEC 19, EXPECTS TO RECEIVE SUBSTANTIAL MAJORITY OF SHARES UNDERLYING REPURCHASE AGREEMENT BY DEC 19.  Full Article

FACTBOX-U.S. banks announce buybacks, dividend hikes after stress test results

June 29 Several U.S. banks announced share buybacks and dividend hikes after the Federal Reserve approved their capital plans following an annual stress test used by the central bank to evaluate capital planning abilities. Capital plans of household names such as JPMorgan Chase & Co , Citigroup Inc, Bank of America Corp and Wells Fargo & Co, as well as major regional lenders like Capital One Financial Corp and PNC Financial Services Group Inc were approved by the Fed on Thurs