Report
Jim Sinegal
EUR 147.86 For Business Accounts Only

Fifth Third Produces a Steady, if Unimpressive, Quarter

Narrow moat-rated Fifth Third achieved acceptable results in the second quarter, including a return on assets of 0.94% and a return on average tangible equity of 9.7%.  We maintain our $22 fair value estimate.
In spite of the low rate environment, net interest margin remained fairly stable, falling by only 2 basis points during the last 12 months on a tax-equivalent basis. Management expects a similar decline in the third quarter if the current rate situation persists. Of more concern, Fifth Th...
Underlying
Fifth Third Bancorp

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Jim Sinegal

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