Fifth Third Posts a Strong 2Q As It Integrates MB Financial
No-moat Fifth Third Bancorp reported a good second quarter as it integrates the acquired MB Financial into its operations. Earnings per share shrank 30% to $0.57 per share, largely because of one-time expenses relating to the merger and the higher share count. Fifth Third seems to be delivering on the expense synergies that justified the merger reasonably well. After adjusting for merger-related expenses, the efficiency ratio improved by 2.6% to 58.5%. Adjusted net interest income grew 13.7% fro...Fifth Third Bancorp is a bank holding company. Through its subsidiaries, the company provides financial products and services to the commercial, financial, retail, governmental, educational, energy and healthcare sectors. The company's segments are: Commercial Banking, which provides credit intermediation, cash management and financial services; Branch Banking, which provides a range of deposit and loan products to individuals and small businesses; Consumer Lending, which includes the company's residential mortgage, automobile and other indirect lending activities; and Wealth and Asset Management, which provides a range of investment alternatives for individuals, companies and not-for-profit organizations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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