2024-01-26 01:33:57 ET
Summary
- Fifth Third Bancorp's shares have recovered from last year's regional banking crisis and have outperformed over the past two months.
- The company's most recent quarterly earnings exceeded estimates, with buybacks set to resume sooner than expected.
- Fifth Third's stable deposit base and reduced risk on the asset side of the balance sheet contribute to its solid financial position.
Shares of Fifth Third Bancorp ( FITB ) have underperformed the market meaningfully over the past year, but they have recovered nearly all of their losses in the wake of last winter’s regional banking crisis, which significantly increased funding costs. In September , I argued that shares were a hold at $28 and would be a buy at $23, where they traded to in November....
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For further details see:
Fifth Third Q4 Earnings: Buybacks Coming Sooner Than Expected