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FITB

Fifth Third

$27.00

0.59 (2.23%)

, MBFI

MB Financial

$44.59

0.83 (1.90%)

07:19
01/22/19
01/22
07:19
01/22/19
07:19

Fifth Third sees FY19 NII up approx. 3% from FY18

Sees Q1 NII down 1.5%-2% from Q4 with no 2019 rate hikes. Sees FY19 NIM up 2-3bps from FY18 with no 2019 rate hikes. Sees Q1 commercial loans up approximately 1% from Q4, with consumer loans stable from Q4. Sees FY19 commercial loans up approximately 5% from FY18, with consumer loans up approximately 1% from FY18. Sees Q1 noninterest income stable from adjusted 1Q18. Sees FY19 noninterest income up approx. 2% from adjusted FY18. Sees Q1 noninterest expense up 1.5%-2% from adjusted 1Q18. Sees FY19 noninterest expense up approx. 1% from adjusted 2018. Sees FY19 effective tax rate 21%-22%. Expects MB Financial (MBFI) acquisition to close in Q1. Expects to realize previously announced expense, revenue synergies. Expects pre-tax expense synergies of approx. $255M, $60M-$75M revenue synergies identified by year three. Expects expense synergies to exclude core deposit intangible expense. Guidance taken from slides presentation ahead of Q4 earnings conference call.

FITB

Fifth Third

$27.00

0.59 (2.23%)

MBFI

MB Financial

$44.59

0.83 (1.90%)

  • 22

    Jan

FITB Fifth Third
$27.00

0.59 (2.23%)

10/31/18
RAJA
10/31/18
UPGRADE
RAJA
Outperform
Fifth Third upgraded to Outperform from Market Perform at Raymond James
10/31/18
RAJA
10/31/18
UPGRADE
Target $30
RAJA
Outperform
Fifth Third upgraded to Outperform on valuation at Raymond James
As previously reported, Raymond James upgraded Fifth Third to Outperform from Market Perform and established a $30 price target. Analyst David Long believes Fifth Third fundamentals are attractive given expanding NIM, a loan-to-deposit ratio below 90%, buybacks, and a valuation at one of the lowest core deposit premiums under coverage.
12/20/18
SPHN
12/20/18
UPGRADE
Target $27
SPHN
Overweight
Fifth Third upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Terry McEvoy upgraded Fifth Third Bancorp to Overweight with a $27 price target. The analyst believes the company is positioned to outperform in 2019. With improving returns on assets, Fifth Third can close its price-to-earnings multiple gap over the next 12 months, McEvoy tells investors in a research note. Further, he believes the company recently reaffirming its 2019 outlook and offering a "firm message" on future expenses was a "step in the right direction."
01/09/19
SBSH
01/09/19
UPGRADE
SBSH
Buy
Fifth Third upgraded to Buy from Neutral at Citi
Citi analyst Keith Horowitz upgraded Fifth Third Bancorp to Buy. The analyst believes the company offers one of the most attractive tactical buying opportunities given its current "dislocated" valuation.
MBFI MB Financial
$44.59

0.83 (1.90%)

06/08/18
SPHN
06/08/18
DOWNGRADE
SPHN
Equal Weight
First Midwest downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Terry McEvoy downgraded First Midwest (FMBI) to Equal Weight from Overweight, stating that he feels that First Midwest has benefited from speculation around the potential for a future sale since the announcement of MB Financial's (MBFI) sale to a large regional bank. While First Midwest still stands to benefit from MB-related market disruption, the impacts won't be felt until 2019 and First Midwest "isn't selling anytime soon," McEvoy tells investors. He maintains his $28 price target on First Midwest shares.
06/14/18
ARGS
06/14/18
INITIATION
Target $36
ARGS
Buy
Fifth Third initiated with a Buy at Argus
Argus analyst Stephen Biggar initiated Fifth Third (FITB) with a Buy rating and a price target of $36, citing its strong fee-based income in asset management, sound credit quality, and above-peer efficiency ratio. The analyst further notes that while the bank's credit loan growth has been constrained, its net interest margins rose 8bps in the most recent quarter amid the rising interest rate environment, and he expects that trend to produce a high single-digit growth in net interest income this year. Biggar points to Fifth Third's recent acquisition announcement of MB Financial (MBFI) as a further catalyst, expanding its position with "significant retail and commercial assets in the Chicago" while boosting its earnings by 7% in the second year after the closing.
09/04/18
09/04/18
UPGRADE
Target $34

Outperform
Fifth Third upgraded to Outperform on valuation at Wedbush
As previously reported, Wedbush analyst Peter Winter upgraded Fifth Third (FITB) to Outperform from Neutral following meetings with management. The analyst notes that the stock has been under pressure following the announcement to acquire MB Financial (MBFI) on May 21. However, he believes the news is more than reflected in the valuation. Furthermore, Winter thinks the company can execute on its planned merger with MB Financial, realize the Project North Star targets and new $100M in expense savings, and show improvement toward reaching its FY 2020 goals of ROA, ROTCE and an efficiency in the low 50's. The analyst also raised his price target on Fifth Third's stock to $34 from $31.
10/31/18
RAJA
10/31/18
UPGRADE
RAJA
Outperform
MB Financial upgraded to Outperform from Market Perform at Raymond James

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