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Fifth Third up 3% after Q2 results

Published 07/21/2017, 01:29 PM
Updated 07/21/2017, 01:29 PM
© Reuters.  Fifth Third up 3% after Q2 results
  • The banks are mostly lower today, but Fifth Third (FITB +3.1%) is an outlier to the upside after Q2 EPS of $0.45 topped estimates by two cents.
  • Net interest margin of 3.01% was up 16 basis points from one year ago and inline with estimates.
  • Helping was better than hoped-for loan performance, with net charge-offs of $64M down $25M from Q1 and $23M from a year ago. Estimates had called for NCOs to be about flat.
  • Provisions of $52M fell from $74M in Q1 and $91M a year ago. Estimates had called for about a flat read from a year ago.
  • Tangible book value per share of $17.11 gained 1% from Q1 and 1% from a year ago.
  • Previously: Fifth Third Bancorp beats by $0.02, misses on revenue (July 21)
  • Now read: Fifth Third Bancorp: Does The Buying Make Sense Here?


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