Expect Higher Returns Post Tax Reform and Better Loan Growth in 2018 for Fifth Third
No-moat rated Fifth Third’s fourth-quarter results were in line with our expectations for the bank, and we are maintaining our $31 per share fair value estimate.ÂNoninterest income came in slightly below our expectations, partially due to weakness within corporate banking revenue, and expenses came in above our expectations, however, lower tax expenses led to earnings more or less in line with our projections, only $0.01 below. The adjusted return on tangible common equity was 11.7% for the qua...
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