2024-04-16 08:29:26 ET
Summary
- Fifth Third Bancorp's Q4 results were strong, beating estimates and showing stable deposits and moderate credit costs.
- Investors will be focused on net interest income, deposit levels/costs, and loan losses in Q1 results.
- Higher rates may be a capital headwind for the company, but they are likely an earnings tailwind, due to higher net interest income.
- At 10x earnings, FITB shares are attractive.
Shares of Fifth Third Bancorp ( FITB ) have recovered meaningfully from levels seen last year in the wake of Silicon Valley’s failure, though they have been stuck around $34 for essentially all of 2024. Since rating shares a hold in January , FITB has basically tread water while the S&P has rallied modestly. With Q1 earnings set to be released on Friday April 19 th , now is an opportune time to preview the release and determine how to trade shares. I am increasingly optimistic....
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Fifth Third Bancorp Q1 Earnings Preview: Higher Rates Could Boost Guidance (Rating Upgrade)