Fifth Third Announces Fourth Quarter Earnings Per Diluted Share of $0.79
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January 25, 2016 8:24 AM EST
Piper Jaffray reiterated a Neutral rating on Fifth Third Bancorp (NASDAQ: FITB), and cut the price target to $19.50 (from $22.00), following the company's 4Q earnings report. FITB's 2016 outlook calls for loan growth inline with that of nominal U.S. GDP growth of 2-3%. This outlook includes 2 additional rate hikes by the Fed... More
January 21, 2016 6:33 AM EST
Fifth Third Bancorp (NASDAQ: FITB) reported Q4 EPS of $0.41, ex-items, $0.01 better than the analyst estimate of $0.40.
4Q15 net income available to common shareholders of $634 million, or $0.79 per diluted common shareIncludes a $331 million pre-tax (~$215 million after-tax) gain on the sale of Vantiv shares, an $89 million pre-tax (~$58 million after-tax) gain on Vantiv warrant actions taken during the quarter, a $49 million pre-tax (~$32 million after-tax) payment received from Vantiv to terminate a portion of its tax receivable agreement, a $21 million pre-tax (~$13 million after-tax) positive valuation adjustment on the remaining warrant Fifth Third holds in Vantiv, a $10...
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