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FITB

Fifth Third

$30.58

-0.2 (-0.65%)

06:49
12/07/17
12/07
06:49
12/07/17
06:49

Fifth Third sees 4Q19 ROTCE at upper end of 12%-14%, efficiency ratio below 60%

In slides being presented at its Investor Day, Fifth Third provided annualized 4Q19 targets, including ROTCE at the upper end of 12%-14%, ROA in the mid to upper end of 1.1%-1.3% and efficiency ratio less than 60%. Fifth Third is assuming rate hikes in December 2017, September 2018 and September 2019, and says assuming an otherwise stable economic environment in line with the current level of activity. Sees migration toward 9.5% CET1 ratio by the end of 2019. The bank said it is positioned to benefit from corporate tax reform and assumes a 20% federal corporate tax rate effective January 1, 2018; if the effective date is deferred, the bank expects the DTL benefit to be reduced. For 2018, sees 1H commercial loan growth 1.75%-2.25% and consumer loan growth of 2.5%-3%, NIM of 3.1%-3.12%, NII $1.95B-$2B. For 2H, sees commercial loan growth 2%-2.5%, consumer loan growth 2.5%-3%, NIM 3.12%-3.14%, NII $2B-$2.05B. Fifth Third is planning for positive operating leverage in 2018.

  • 07

    Dec

  • 23

    Jan

FITB Fifth Third
$30.58

-0.2 (-0.65%)

08/09/17
WELS
08/09/17
INITIATION
Target $27
WELS
Market Perform
Fifth Third resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Fifth Third with a Market Perform rating and $27 price target.
10/02/17
BARD
10/02/17
DOWNGRADE
Target $24
BARD
Underperform
Fifth Third downgraded to Underperform from Neutral at Baird
Baird analyst David George downgraded Fifth Third to Underperform from Neutral as it has outperformed most banks in Q3 and now trades at a premium to peers. He thinks it will be difficult to reach Project North Star targets without macro help and that significant execution risk remains. George maintained his $24 price target on Fifth Third.
11/15/17
MSCO
11/15/17
NO CHANGE
MSCO
Morgan Stanley says higher SIFI threshold could benefit Comerica, CIT, Zions
After Senate Banking Committee Chairman Mike Crapo proposed a bill in the Senate that would effectively remove the SIFI threshold for banks under $250B, Morgan Stanley analyst Ken Zerbe estimated that banks with $50B-$100B in assets could see a 12% increase in 2020 EPS and a 15% bump in 2021. He sees the largest potential increase at Comerica (CMA), followed by CIT Group (CIT) and Zions Bancorp (ZION). Zerbe projects the least EPS benefit for SunTrust (STI), Regions Financial (RF), Ally Financial (ALLY) and Discover (DFS), he tells investors. Other banks he lists in his note as potentially impacted by SIFI and CCAR changes include Synchrony (SYF), M&T Bank (MTB), KeyCorp (KEY), Fifth Third (FITB), BB&T (BBT), Citizens Financial (CFG) and Huntington Bancshares (HBAN).
11/17/17
MACQ
11/17/17
DOWNGRADE
Target $26
MACQ
Underperform
Fifth Third downgraded to Underperform from Neutral at Macquarie
Macquarie analyst David Konrad downgraded Fifth Third to Underperform with a $26 price target due to below peer returns, lowered PTPP expectations, and valuation.

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