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Fifth Third Bancorp (FITB)

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of December 31, 2020, the Company had $205 billion in assets and operated 1,134 full-service Banking Centers, and 2,397 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2020, had $434 billion in assets under care, of which it managed $54 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses.

Company profile

Ticker
FITB, FITBI, FITBP, FITBO
Exchange
Website
CEO
Gregory Carmichael
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Fifth Third Financial Corporation • Ashland Management Agency, LLC • Fifth Third Commercial Funding, Inc. • Fifth Third Community Development Company, LLC • 5/3 BS IV Investment Fund LLC • 5/3 CityLink Investment Fund LLC • 5/3 Keyer Row Investment Fund LLC • 5/3 Warsaw Creative Investment Fund LLC • 5/3 Willkommen Investment Fund LLC • 5/3 Willkommen Investment Fund 2 LLC ...
IRS number
310854434

FITB stock data

Investment data

Data from SEC filings
Top 50 of 2649 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
$1.06B 2.79M
$933.64M 6.83M
$754.45M 2.94M
$443.5M 3.08M
$442.25M 202.94K
$374.19M 3.52M
$313.44M 1.39M
$302.28M 801.28K
$296.56M 577.37K
$296.46M 1.72M
$288.93M 3.17M
$279.66M 806.23K
$277.51M 1.01M
$277.46M 3M
$261.95M 2.33M
$255.53M 1.44M
$249.48M 4.24M
$249.29M 1.63M
$229.46M 3.66M
$227.95M 722.56K
Vanguard Tax-managed Intl FD
$206.04M 5.05M
$202.1M 3.13M
$190M 6.1M
$188.4M 1.24M
$175.45M 1.21M
$174.06M 320.39K
$172.74M 2.23M
$164.59M 75.24K
$159.91M 3.05M
$153.04M 619.9K
$151.5M 1.16M
$147.79M 692.92K
$144.3M 852.02K
$143.42M 1.89M
$138.06M 284.19K
$134.97M 532.38K
$133.86M 803.18K
$129.13M 2.07M
$119.32M 1.1M
$115.07M 1.49M
Vanguard Intl Equity Index F
$114.32M 2.74M
$113.35M 545.58K
$113.26M 702.36K
$108.99M 751.81K
$106.6M 487.4K
$106.37M 1.24M
$106.17M 1.04M
$106.01M 1.12M
$105.68M 608.03K
$104.88M 664.76K
Holdings list only includes long positions. Only includes long positions.

Calendar

5 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Jul 22 Timothy Spence Common Stock Grant Acquire A No No 0 31,157 0 216,654
5 Jul 22 Timothy Spence Stock Appreciation Rights Common Stock Grant Acquire A No No 33.7 48,965 1.65M 48,965
2 Jun 22 Lavender Kevin P Common Stock Sell Dispose S No No 39.24 6,500 255.06K 71,008
17 May 22 Nancy C. Pinckney Common Stock Payment of exercise Dispose F No No 37.18 234 8.7K 25,684
17 May 22 Jude Schramm Common Stock Sell Dispose S No No 36.93 2,500 92.33K 45,844
17 May 22 Richard L. Stein Common Stock Payment of exercise Dispose F No No 37 409 15.13K 42,155
79.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 919 909 +1.1%
Opened positions 95 141 -32.6%
Closed positions 85 51 +66.7%
Increased positions 312 274 +13.9%
Reduced positions 299 308 -2.9%
13F shares Current Prev Q Change
Total value 23.37B 24.09B -3.0%
Total shares 542.29M 553.31M -2.0%
Total puts 2.1M 2.2M -4.8%
Total calls 1.7M 1.63M +4.2%
Total put/call ratio 1.2 1.4 -8.6%
Largest owners Shares Value Change
Vanguard 83.01M $3.57B -0.0%
BLK Blackrock 54.23M $2.33B +1.4%
Capital World Investors 40.47M $1.74B +60.1%
TROW T. Rowe Price 33.81M $1.46B -28.4%
STT State Street 33.69M $1.46B -3.1%
BAC Bank Of America 24.57M $1.06B -6.9%
Boston Partners 16.53M $711.31M -26.2%
IVZ Invesco 15.5M $667.33M -6.5%
JPM JPMorgan Chase & Co. 14.68M $631.65M -3.0%
Geode Capital Management 13.68M $587.62M +2.5%
Largest transactions Shares Bought/sold Change
Capital World Investors 40.47M +15.2M +60.1%
TROW T. Rowe Price 33.81M -13.42M -28.4%
Boston Partners 16.53M -5.88M -26.2%
Norges Bank 0 -5.76M EXIT
Citadel Advisors 4.36M +4.32M +9389.5%
MS Morgan Stanley 5.81M -2.76M -32.2%
FMR 6.42M -2.3M -26.4%
Alliancebernstein 10.05M +1.96M +24.3%
BAC Bank Of America 24.57M -1.81M -6.9%
Nuveen Asset Management 8.18M -1.6M -16.3%

Financial report summary

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Risks
  • Deteriorating credit quality has adversely impacted Fifth Third in the past and may adversely impact Fifth Third in the future.
  • Fifth Third may have more credit risk and higher credit losses to the extent loans are concentrated by location or industry of the borrowers or collateral.
  • Problems encountered by financial institutions larger than or similar to Fifth Third could adversely affect financial markets generally and have direct and indirect adverse effects on Fifth Third.
  • Fifth Third must maintain adequate sources of funding and liquidity.
  • Fifth Third and/or the holders of its securities could be adversely affected by unfavorable ratings from rating agencies.
  • If Fifth Third is unable to maintain or grow its deposits, it may be subject to paying higher funding costs.
  • The Bancorp’s ability to receive dividends from its subsidiaries accounts for most of its revenue and could affect its liquidity and ability to pay dividends.
  • Fifth Third is exposed to cyber security risks that create both operational and reputational risk for the Bank and its customers across all lines of business.
  • Fifth Third relies on its systems and certain third-party service providers and certain failures (including those driven by climate-related weather events) could materially adversely affect operations.
  • Fifth Third may not be able to effectively manage organizational changes and implement key initiatives in a timely fashion, or at all, due to competing priorities which could adversely affect its business, results of operations, financial condition and reputation.
  • Fifth Third may not be able to successfully implement future information technology system enhancements, which could adversely affect Fifth Third’s business operations and profitability.
  • Fifth Third’s framework for managing risks may not be effective in mitigating its risk and loss.
  • Fifth Third may experience losses related to fraud, theft or violence.
  • Fifth Third could suffer if it fails to attract and retain skilled personnel.
  • Fifth Third and/or its affiliates are or may become involved from time to time in information-gathering requests, investigations and litigation, regulatory or other enforcement proceedings by various governmental regulatory agencies and law enforcement authorities, as well as self-regulatory agencies which may lead to adverse consequences.
  • Fifth Third may be required to repurchase residential mortgage loans or reimburse investors and others as a result of breaches in contractual representations and warranties.
  • Fifth Third is subject to extensive governmental regulation which could adversely impact Fifth Third or the businesses in which Fifth Third is engaged.
  • Fifth Third could suffer from unauthorized use of intellectual property.
  • Fifth Third is subject to various regulatory requirements that may limit its operations and potential growth.
  • Fifth Third could face serious negative consequences if its third-party service providers, business partners or investments fail to comply with applicable laws, rules or regulations.
  • As a regulated entity, the Bancorp is subject to certain capital requirements that may limit its operations, potential growth and ability to pay or increase dividends on its common stock or to repurchase its capital stock.
  • Regulation of Fifth Third by the Commodity Futures Trading Commission (“CFTC”) imposes additional operational and compliance costs.
  • Deposit insurance premiums levied against the Bank may increase if the number of bank failures increase or the cost of resolving failed banks increases.
  • If an orderly liquidation of a systemically important BHC or non-bank financial company were triggered, Fifth Third could face assessments for the Orderly Liquidation Fund.
  • The replacement of LIBOR could adversely affect Fifth Third’s revenue or expenses and the value of those assets or obligations.
  • Weakness in the U.S. economy, including within Fifth Third’s geographic footprint, has adversely affected Fifth Third in the past and may adversely affect Fifth Third in the future.
  • Global and domestic political, social and economic uncertainties and changes may adversely affect Fifth Third.
  • Changes and trends in the capital markets may affect Fifth Third’s income and cash flows.
  • Fifth Third’s stock price is volatile.
  • Fifth Third’s mortgage banking net revenue can be volatile from quarter to quarter.
  • If Fifth Third does not respond to intense competition and rapid changes in the financial services industry or otherwise adapt to changing customer preferences, its financial performance may suffer.
  • Changes in retail distribution strategies and consumer behavior may adversely impact Fifth Third’s investments in its bank premises and equipment and other assets and may lead to increased expenditures to change its retail distribution channel.
  • Difficulties in identifying suitable opportunities or combining the operations of acquired entities or assets with Fifth Third’s own operations or assessing the effectiveness of businesses in which Fifth Third makes strategic investments or with which Fifth Third enters into strategic contractual relationships may prevent Fifth Third from achieving the expected benefits from these acquisitions, investments or relationships.
  • Future acquisitions may dilute current shareholders’ ownership of Fifth Third and may cause Fifth Third to become more susceptible to adverse economic events.
  • Fifth Third may sell or consider selling one or more of its businesses or investments. Should it determine to sell such a business or investment, it may not be able to generate gains on sale or related increase in shareholders’ equity commensurate with desirable levels. Moreover, if Fifth Third sold such businesses or investments, the loss of income could have an adverse effect on its earnings and future growth.
  • Damage to Fifth Third’s reputation could harm its business.
  • Fifth Third is subject to environmental, social and governance (“ESG”) risks that could adversely affect its reputation, the trading price of its common stock and/or its business, operations, and earnings.
  • Changes in accounting standards or interpretations could impact Fifth Third’s reported earnings and financial condition.
  • Fifth Third uses models for business planning purposes that may not adequately predict future results.
  • The preparation of financial statements requires Fifth Third to make subjective determinations and use estimates that may vary from actual results and materially impact its results of operations or financial position.
  • Global climate change, natural disasters or health emergencies may have an effect on the performance of Fifth Third’s loan portfolios, thereby adversely impacting its results of operations.
  • Societal responses to climate change could adversely affect Fifth Third’s business and performance, including indirectly through impacts on Fifth Third’s customers.
  • Potential noncompliance with evolving federal and state laws governing cannabis-related businesses (“CRBs”) could subject Fifth Third to liabilities.
  • The COVID-19 pandemic creates significant risks and uncertainties for Fifth Third’s business.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
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