#3 - Fifth Third Bancorp (NASDAQ:FITB)
Fifth Third Bancorp (NASDAQ: FITB) is another large-cap regional bank with a market cap of $18.61 billion as of April 2023. The bank’s footprint covers 10 states throughout Ohio and the Southeast United States. As of December 2022, Fifth Third had $207 billion in assets. The bank lists its three core businesses as commercial banking, consumer and small business banking and wealth & asset management.
In the company’s January 2023 earnings report, it stated that it’s Common Equity Tier 1 ratio increased to 9.3% from 9.1%, and management said that it was expected to maintain that ratio at around 9.25% for the remainder of 2023. Additionally, the bank’s loan-to-core deposit ratio (LDR) was 76%, and the bank had over $102 billion in available liquidity sources.
The bank’s dividend yield as of April 2023 is 4.83%, and the bank has increased the dividend for 11 consecutive years, which shows its prudent financial management.
About Fifth Third Bancorp
Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.
Read More - Current Price
- $42.93
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $45.32 (5.6% Upside)
