Fifth Third Announces Fourth Quarter 2020 Results

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Fifth Third Bancorp (FITB) Tops Q4 EPS by 9c

January 21, 2021 6:31 AM EST

Fifth Third Bancorp (NASDAQ: FITB) reported Q4 EPS of $0.78, $0.09 better than the analyst estimate of $0.69.

Key Highlights

CET1 approx. 84 bps above target; positioned to initiate repurchases up to $180 million in 1Q21Solid credit quality, with stable NCOs and declines in NPAs; reserve coverage reflects improved macroeconomic environment and credit resultsCompleted divestitures of property & casualty insurance and 401(k) recordkeeping businesses as well as facility exits to help deliver $200 million of annual expense savingsClosed acquisition of Hammond Hanlon Camp LLC, expanding our healthcare advisory expertiseMade $2.8 billion... More