Fifth Third Bancorp Stock Price, News & Analysis

Fifth Third Bancorp (Nasdaq: FITB) will participate in the 2022 Goldman Sachs U.S. Financial Services Conference on December 7, 2022, at approximately 8:00 AM ET. The event will feature CEO Tim Spence and CFO Jamie Leonard. A live audio webcast and presentation slides will be accessible on the Investor Relations section of www.53.com for 14 days following the conference. Fifth Third is recognized as one of Ethisphere's World’s Most Ethical Companies and is committed to enhancing customer and community relations.

Fifth Third Bank has launched its new mobile banking app, marking its first cloud-first application aimed at enhancing user experience. Key features include customized navigation, validation screens, and detailed transaction information. The app supports Fifth Third Momentum® Banking, offering innovative options such as goal saving and Early Pay for faster access to funds. The cloud-based architecture allows for quicker updates and enhancements, addressing customers' banking needs effectively.

Fifth Third Bank has launched a new 1% Cash/Back Card, enhancing its cash-back credit card lineup. The card features an introductory 0% APR for 21 months on purchases and balance transfers, making it versatile for various financial needs. Customers will earn unlimited 1% cash back on all purchases without an annual fee. This launch aims to meet diverse customer demands while positioning Fifth Third competitively in the credit market.

Fifth Third Bank has launched Fifth Third Wealth Advisors, an independent Registered Investment Advisor aimed at seasoned advisory teams managing over $1 billion. This initiative provides advisors with a flexible investment platform, operational support, and physical office space, enabling a more independent operational model.

Led by Eric Housman, the new firm offers a combination of advisory services and access to resources from Fifth Third Bank. The focus is on enhancing client relationships while maintaining an entrepreneurial spirit.

Fifth Third Bank has announced an immediate increase in its prime lending rate to 7.00%, following a previous adjustment on Sept. 21, 2022, when the rate rose from 5.50% to 6.25%. This change reflects the bank's ongoing commitment to adapting its lending practices. Fifth Third Bank, a federally chartered institution and the parent of Fifth Third Bancorp, has been recognized as one of the World’s Most Ethical Companies. Its stock is traded under the symbol FITB on NASDAQ.

Fifth Third Bancorp (NASDAQ: FITB) will attend the BancAnalysts Association of Boston Conference on November 4, 2022, at 11:20 AM ET. CEO Tim Spence and CFO Jamie Leonard will represent the company. Participants can access an audio webcast and presentation slides live and for 14 days post-conference via the Investor Relations section of www.53.com. Fifth Third, recognized for its commitment to ethical banking, provides innovative financial services aimed at improving lives since 1858.

Fifth Third Bancorp (NASDAQ: FITB) announced third-quarter 2022 net income of $653 million, up from $562 million in the previous quarter but down from $704 million year-over-year. Diluted earnings per share increased to $0.91, reflecting a 20% sequential rise but an 8% decline year-over-year. Net interest income rose 12% from Q2, driven by higher market rates and loan growth, while noninterest income decreased by 20% year-over-year. The bank also raised its quarterly cash dividend by 10%. Key metrics included a ROTCE of 21.9% and a 53.7% efficiency ratio.

Fifth Third Bancorp highlights the importance of cybersecurity in its recent press release for Cybersecurity Awareness Month. CISO Brian Minick emphasizes the need for vigilance against various scams targeting personal information. The bank provides essential tips to protect against fraud, such as recognizing phishing attempts, using strong passwords, updating software, backing up data, and avoiding public Wi-Fi. Fifth Third reassures customers that it will never ask for sensitive information through insecure channels. The company promotes its Identity Alert services and resources for fraud prevention.

Fifth Third Bank has partnered with the Cincinnati USA Regional Chamber and Duke Energy to measure carbon impact and provide verified carbon offsets for the BLINK light and art festival in Cincinnati, running from October 13-16, 2022. The bank, a leader in environmental sustainability, aims to make its BLINK installation carbon neutral by using renewable energy certificates and verified carbon offsets. Fifth Third has been active in BLINK since 2019 and has achieved carbon neutrality for its operations since 2020.