Fifth Third up 3% after Q2 results
Seeking Alpha
Published Jul 21, 2017 01:29PM ET
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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