|Over a week ago|
Fifth Third sets new operational sustainability targets by 2030 » 08:3005/0905/09/22
Fifth Third announced six…
Fifth Third announced six new operational sustainability targets to be achieved by 2030. These targets build upon the Bank's initial five goals set in 2017, which established the foundation for Fifth Third to reduce the environmental impact in its own operations. The 2017 goals were to purchase 100% renewable power and to reduce its energy use, greenhouse gas emissions, water use and waste sent to landfills by 2022. Fifth Third's new and enhanced operational sustainability targets for 2030 are: Purchase 100% renewable power; Reduce location-based GHG emissions1 by 75%; Reduce energy use by 40%; Reduce potable water use by 50%; Divert 75% of waste from going to landfills; Reduce paper use by 75% and purchase remaining paper from certified sources. Since 2014, Fifth Third has reduced its location-based Scope 1 and Scope 2 emissions by more than 50%. Fifth Third has been carbon neutral for these emissions since 2020 with the purchase of 100% renewable power and verified carbon offsets for the remaining emissions. In addition to announcing these new targets, Fifth Third announces the establishment of a Sustainability Office with the appointment of Mike Faillo as chief sustainability officer. As CSO, Faillo will lead the office and will lead Fifth Third's comprehensive environmental, social and governance strategy, which includes the Bank's climate strategy and sustainable finance initiatives, as well as social and governance reporting. This includes working with the lines of business to develop financial solutions and drive innovation to ensure the transition to a sustainable and inclusive economy.
Fifth Third to increase prime lending rate to 4.00% » 14:3805/0405/04/22
Fifth Third Bank,…
Fifth Third Bank, National Association, announced it will increase its prime lending rate to 4.00%, effective immediately.
Nuvei brings real-time deposits to U.S. sports betting, iGaming » 09:0405/0305/03/22
Nuvei Corporation announces that it has joined with Fifth Third Bank, National Association, to bring real-time deposits to the U.S. sports betting and iGaming industries. In a first for the industry, the rollout, which will become available for all Nuvei partners through its open banking platform in North America, enables merchants to receive instant real-time deposits.
Wells Fargo upgrades Fifth Third to Overweight with $52 price target » 06:4004/2804/28/22
As previously reported,…
As previously reported, Wells Fargo analyst Mike Mayo upgraded Fifth Third to Overweight from Equal Weight with a $52 price target given what's likely the best net income interest growth in its modern history, among the best core growth in the industry, and the company's ability to allow much of these benefits to fall to the bottom line. That's reinforced by continued strong Q2 industry loan growth, the analyst adds.
Fifth Third upgraded to Overweight from Equal Weight at Wells Fargo » 05:0004/2804/28/22
Wells Fargo analyst Mike…
Wells Fargo analyst Mike Mayo upgraded Fifth Third Bancorp to Overweight from Equal Weight with a $52 price target.
Fly Intel: Top five weekend stock stories » 20:0604/2404/24/22
TWTR, GOOG, GOOGL, FB, AAPL, CMCSA, CMCSK, UA, UAA, JPM, AVGO, CAT, CVS, FITB, MRK, LVMUY
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) is re-examining Elon Musk's $43 billion takeover offer after the billionaire lined up financing for the bid, in a sign the social-media company could be more receptive to a deal, The Wall Street Journal's Cara Lombardo reported. Twitter had been expected to rebuff the offer, which Mr. Musk made earlier this month without saying how he would pay for it. But after he disclosed last week that he now has $46.5 billion in financing, Twitter is taking a fresh look at the offer and is more likely than before to seek to negotiate, people familiar with the matter said. The two sides are meeting Sunday to discuss Mr. Musk's proposal, the people said. Meanwhile, Reuters' Svea Herbst-Bayliss and Greg Roumeliotis reported that Twitter is coming under increasing pressure from its shareholders to negotiate with Elon Musk even though the world's richest person has called his $43 billion bid for the social media platform his best and final offer. While the views of Twitter shareholders vary over what a fair price for a deal would be, many reached out to the company after Musk outlined his acquisition financing plan on Thursday and urged it not to let the opportunity for a deal slip away, sources told the publication. 2. Alphabet (GOOGL) unit Google, Meta (FB) and other large online platforms will have to do more to tackle illegal content or risk hefty fines under new internet rules agreed between European Union countries and EU lawmakers on Saturday, Reuters' Foo Yun Chee reported. Under the Digital Services Act, the companies face fines up to 6% of their global turnover for violating the rules while repeated breaches could see them banned from doing business in the EU, the publication added. The new rules ban targeted advertising aimed at children or based on sensitive data such as religion, gender, race and political opinions. Dark patterns, which are tactics that mislead people into giving personal data to companies online, will also be prohibited, the author noted. 3. Meta Platforms, the former Facebook, has come under heavy fire from Congress, regulators, and even its own users, but there has been nothing like the crisis it now faces, with its core business decelerating, and investors questioning whether Meta can ever get back its money-minting mojo, Eric J. Savitz wrote in this edition of Barron's. Nearly one out of every four dollars spent on digital ads is on a Meta site. Only Alphabet 's Google is bigger. But Apple's (AAPL) changes, Meta has said, will mean that 2022 revenue will shrink by about $10B, or about 9% of 2021's revenue. Barron's spoke at length to top Meta executives who are helping spearhead the company's responses to the ad changes, the threat from TikTok, and the megabet on the metaverse. While the stock looks statistically cheap, addressing these issues will take time, the TikTok threat is considerable, and the payoff from the metaverse is many years away, the author noted. 4. DreamWorks Animation and Comcast (CMCSA) subsidiary Universal's "The Bad Guys" won this weekend's domestic box office with a $24M debut. Overseas, the action-comedy has earned $63M for a worldwide total of $87M. The movie has an A CinemaScore. 5. Under Armour (UA; UAA), JPMorgan (JPM), Broadcom (AVGO), Caterpillar (CAT), CVS Health (CVS), Fifth Third Bancorp (FITB), HP Inc. (HPQ), Merck (MRK), and LVMH (LVMUY) saw positive mentions in this week's edition of Barron's.
Merck, CVS among dividend stocks to help whip inflation now, Barron's says » 10:3504/2304/23/22
AVGO, CAT, CVS, FITB, HPQ, MRK
Barron's has used an…
Barron's has used an approach inspired by the Federal Reserve's so-called dot plot, or path of expected interest rate hikes, to find more dividend growers, Jack Hough writes in this week's edition of Barron's. It screened the S&P 500 for companies that analysts predict will increase payments nicely in the years ahead, and found six: Broadcom (AVGO), Caterpillar (CAT), CVS Health (CVS), Fifth Third Bancorp (FITB), HP Inc. (HPQ), and Merck (MRK). Reference Link
|Over a month ago|
Fifth Third expects FY22 revenue to be $275M more than January guidance 10:3104/1904/19/22
Consensus is $8.38B.
Fifth Third sees mortgage revenue down about '10% or so' in FY22 vs. FY21 10:2804/1904/19/22
Fifth Third sees 'resilient' share repurchases in Q4 10:1104/1904/19/22