Slow Growth and More Worldpay Share Sales for Fifth Third in 2Q
No-moat-rated Fifth Third’s second-quarter results were largely in line with our expectations, and we are maintaining our fair value estimate of $31 per share. Normalized earnings per share were $0.63, and the normalized return on assets and return on tangible equity were 1.33% and 14.6%, respectively. These are strong results and improvements on results from just last quarter. Fifth Third now believes it will close the MB Financial acquisition by first-quarter 2019, and then the integration pro...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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