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Fifth Third Bancorp - FITB STOCK NEWS

Welcome to our dedicated page for Fifth Third Bancorp news (Ticker: FITB), a resource for investors and traders seeking the latest updates and insights on Fifth Third Bancorp stock.

Fifth Third Bancorp (symbol: FITB) is a diversified financial-services company headquartered in Cincinnati, Ohio. With over $200 billion in assets, the company operates an extensive network of full-service banking branches and ATMs across Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina. Fifth Third Bancorp is dedicated to providing a wide range of financial services, including commercial banking, consumer lending, and investment advisory services.

Fifth Third Bank, a core subsidiary of Fifth Third Bancorp, is committed to innovation and community service. The bank is an affirmative action/equal opportunity employer and prides itself on fostering a diverse and inclusive workplace. Recent achievements include the introduction of new digital banking solutions and strategic partnerships aimed at enhancing customer experience and expanding service offerings.

The company is continually involved in numerous community-building initiatives through the Fifth Third Foundation, which supports various educational, health, and human services programs. Financially, Fifth Third Bancorp maintains a strong balance sheet, with a focus on sustainable growth and shareholder value. The company's commitment to listening to new ideas and responding to customer and community needs underscores its mission to strengthen its service offerings continually.

Stay updated with the latest developments, financial performance, and news related to Fifth Third Bancorp by regularly checking trusted sources like Fifth Third Bank and the Fifth Third Foundation.

News

Fifth Third Named One of America’s Most JUST Companies by JUST Capital and CNBC

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Fifth Third was named to the JUST 100 list for the second consecutive year, ranking fifth among banks and 45th overall. The Bank's commitment to employees, customers, communities, planet, and shareholders was recognized. JUST Capital evaluated 937 companies and found that those in the JUST 100 pay 11.8% more workers a family-sustaining living wage, provide 7.2 more hours of career development training per employee, and offer 2 more weeks of paid parental leave for both primary and secondary caregivers. They also intake 99% less water per revenue dollar, emit 42% less CO2 per revenue dollar, use 29.6% more renewable energy, and have higher profit margins, return on equity, and dividend yield compared to their peers.
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Fifth Third named one of the World’s Most Admired Companies by Fortune Magazine

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Fifth Third has been named to Fortune’s 2024 list of the World’s Most Admired CompaniesTM, based on feedback from executives, directors, and analysts. This is the first time Fifth Third has been included on the list. Tim Spence, the chairman, CEO, and president, expressed pride in the recognition and highlighted the company's focus on delivering strong returns for investors, empowering customers, community involvement, and creating a positive work culture. In 2023, Fifth Third was also recognized as the 'Bank of the Year U.S.' by The Banker and included in TIME's World's Best Companies, Forbes’ Best Employers for Diversity, and Fortune’s America’s Most Innovative Companies lists.
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Fifth Third Reports Fourth Quarter 2023 Diluted Earnings Per Share of $0.72

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Fifth Third Bancorp (NASDAQ: FITB) reported strong financial results for the fourth quarter of 2023, with net income of $530 million compared to $660 million in the prior quarter and $737 million in the year-ago quarter. The bank reported an increase in average deposits by 5% compared to the year-ago quarter, while maintaining full Category 1 LCR compliance. Additionally, the bank achieved a loan-to-core deposit ratio of 72% and increased CET1 capital by 49 bps sequentially to 10.29%. Other highlights include an increase in adjusted ROTCE ex. AOCI of 16.8%, adjusted efficiency ratio of 55.3%, and tangible book value per share increase of 28%. Despite the strong financial performance, the bank reported a diluted earnings per share impact of certain items of -$0.27, including FDIC special assessment, valuation of Visa total return swap, Fifth Third Foundation contribution, and restructuring severance expense.
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For Fifth Consecutive Year, Fifth Third Private Bank Recognized as Best Private Bank

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Fifth Third Private Bank, a division of Fifth Third Bank, National Association (FITB), was named for the fifth consecutive year as a Best Private Bank (US, Regional) and Best Private Bank for Entrepreneurs (Globally) by Global Finance for the 2024 World’s Best Private Bank Awards. The awards demonstrate the bank's commitment to clients and its consultative approach to providing customized wealth strategies. Ratings were based on performance from July 1, 2022, through June 30, 2023.
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Fifth Third Earns Highest Marks in Human Rights Campaign’s 2023 Corporate Equality Index

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Fifth Third Bancorp (FITB) Receives Perfect Score on 2023-2024 Corporate Equality Index for LGBTQ+ Workplace Equality
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Fifth Third Announces Leadership Changes

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Fifth Third Bancorp (Nasdaq: FITB) announced executive leadership changes effective January 2, 2024. Tim Spence appointed chairman of the board, succeeding Nick Akins, who will become lead independent director. Jamie Leonard to become chief operating officer, and Bryan Preston to replace Leonard as chief financial officer. Brennen Willingham will succeed Preston as treasurer.
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Fifth Third Awards $53,000 Grants to Three Small Businesses

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Fifth Third Bank (FITB) employees showed their love for local small businesses by entering them in a sweepstakes to win a $53,000 grant. The winners are Rey’s Remodeling in Indianapolis, Delight Nails & Spa in Orlando, and RODI Italian in Loveland, Ohio. Nearly 2,200 entries were made by employees, demonstrating the bank's commitment to supporting small businesses and local communities.
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Fifth Third Bank Named ‘Bank of the Year U.S.’ by The Banker

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Fifth Third Bank (FITB) has been named 'Bank of the Year' for the U.S. 2023 by The Banker, recognizing its commitment to leveraging technology and innovation to serve customers. The bank's acquisition of Rize Money, Inc. and the evolution of its mobile app virtual assistant Jeanie were key factors in winning the award. Judges select winning banks based on performance, innovation, adding customer value, and leadership in society.
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Fifth Third Named to Top Lists by Forbes, Time

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Fifth Third Bank, National Association (FITB) has been recognized on the Forbes Best Brands for Customer Service 2024 list and TIME World’s Best Companies 2023 list. This marks the first time Fifth Third Bank has been included in these prestigious rankings. Forbes' list is based on a year-long survey of 201,000 people, resulting in 4.2 million ratings of over 3,000 brands. The TIME World’s Best Companies 2023 list is determined through a comprehensive analysis of employee satisfaction, revenue growth, and sustainability, with data collected from approximately 150,000 participants in 58 countries. Companies on the list must have generated at least US $100 million in revenue in 2022 and demonstrated positive revenue growth from 2020 to 2022.
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Fifth Third Bancorp to Participate in the Goldman Sachs U.S. Financial Services Conference

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Fifth Third Bancorp (FITB) to participate in the 2023 Goldman Sachs U.S. Financial Services Conference
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FAQ

What is the current stock price of Fifth Third Bancorp (FITB)?

The current stock price of Fifth Third Bancorp (FITB) is $42.93 as of December 20, 2024.

What is the market cap of Fifth Third Bancorp (FITB)?

The market cap of Fifth Third Bancorp (FITB) is approximately 28.4B.

What services does Fifth Third Bancorp offer?

Fifth Third Bancorp offers commercial banking, consumer lending, and investment advisory services.

Where is Fifth Third Bancorp headquartered?

Fifth Third Bancorp is headquartered in Cincinnati, Ohio.

How many assets does Fifth Third Bancorp manage?

Fifth Third Bancorp manages over $200 billion in assets.

In which states does Fifth Third Bancorp operate?

Fifth Third Bancorp operates in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.

Is Fifth Third Bancorp an equal opportunity employer?

Yes, Fifth Third Bancorp is proud to be an affirmative action/equal opportunity employer.

What community initiatives is Fifth Third Bancorp involved in?

Fifth Third Bancorp is involved in various community-building initiatives through the Fifth Third Foundation, supporting educational, health, and human services programs.

What recent achievements has Fifth Third Bancorp made?

Recent achievements include the introduction of new digital banking solutions and strategic partnerships aimed at enhancing customer experience.

How can I stay updated on Fifth Third Bancorp's latest news?

Stay updated by regularly checking trusted sources like Fifth Third Bank and the Fifth Third Foundation.

What is the mission of Fifth Third Bancorp?

The mission of Fifth Third Bancorp is to continually strengthen its service offerings by listening to new ideas and responding to customer and community needs.

How does Fifth Third Bancorp ensure sustainable growth?

Fifth Third Bancorp maintains a strong balance sheet with a focus on sustainable growth and shareholder value.

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Fifth Third Bancorp

Nasdaq:FITB

FITB Rankings

#416 Ranked by Market Cap
#923 Ranked by Dividends

FITB Stock Data

28.44B
667.10M
0.58%
86.52%
3.27%
Banks - Regional
State Commercial Banks
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United States of America
CINCINNATI