Guggenheim Downgrades Fifth Third Bancorp (FITB) to Neutral
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Fifth Third Announces Third Quarter 2015 Net Income to Common Shareholders of $366 Million, or $0.45 Per Diluted Share
October 20, 2015 6:30 AM EDT3Q15 net income available to common shareholders of $366 million, or $0.45 per diluted common share Includes a $130 million pre-tax (~$84 million after tax) positive valuation adjustment on the warrant Fifth Third holds in Vantiv, $35 million pre-tax (~$23 million after tax) of provision expense related to the restructuring of a student loan backed commercial credit originally extended in 2007, a $9 million pre-tax (~$6 million after tax) charge associated with executive retirement and severance costs, and an $8 million pre-tax (~$5 million after tax) charge related to the valuation of the Visa total return swap, resulting in a net $0.06 impact on earnings per share... More
