Piper Jaffray Cuts Price Target on Fifth Third Bancorp (FITB) Following 4Q Earnings

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Go back to Piper Jaffray Cuts Price Target on Fifth Third Bancorp (FITB) Following 4Q Earnings

Fifth Third Announces Fourth Quarter Earnings Per Diluted Share of $0.79

January 21, 2016 6:30 AM EST

2015 Earnings Per Diluted Share of $2.01

4Q15 net income available to common shareholders of $634 million, or $0.79 per diluted common share Includes 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 million pre-tax (~$7 million after-tax)... More