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FITB Fifth Third Bancorp

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
IRS number
310854434

FITB stock data

(
)

Investment data

Data from SEC filings
Top 50 of 2414 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
$1.13B 2.85M
$916.79M 7.51M
$724.33M 3.07M
$523.99M 169.35K
$472.65M 3.49M
$418.91M 203.1K
$361.82M 2.38M
$337.04M 1.1M
$321.25M 810.57K
$294.33M 3.2M
$291.46M 1.12M
$278.15M 763.52K
$275.28M 3.82M
$270.91M 3.57M
$261.51M 734.48K
$257.26M 2.37M
$242.79M 824.32K
$235.14M 1.43M
$231.49M 3.13M
$215.4M 5.57M
$213.15M 1.19M
$211.52M 1.15M
Vanguard Tax-managed Intl FD
$209.07M 4.26M
$192.08M 516.25K
$188.67M 853.96K
$168.22M 1.55M
$163.45M 2.16M
$163.06M 78.82K
$159.96M 299.58K
$151.88M 1.14M
$148.93M 326.33K
$146.27M 1.22M
$144.32M 1.9M
$139.06M 640.62K
$138.82M 620.22K
$137.68M 2.14M
$136.86M 610.58K
$134.62M 610.76K
$130.87M 538.49K
$130.44M 1.68M
$129.97M 2.03M
$123.53M 698.26K
$122.53M 2.3M
Vanguard Intl Equity Index F
$120.52M 2.32M
$117.33M 829.49K
$116.21M 516.3K
$114.11M 2.21M
$113.61M 411.27K
$110.71M 238.77K
$107.09M 1.7M
Holdings list only includes long positions. Only includes long positions.

Calendar

7 May 21
30 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 3.12B 3.12B 3.12B 3.12B 3.12B 3.12B
Cash burn (monthly) 8.33M 13.33M (positive/no burn) (positive/no burn) 122M 35.67M
Cash used (since last report) 33.32M 53.32M n/a n/a 487.88M 142.63M
Cash remaining 3.09B 3.07B n/a n/a 2.63B 2.98B
Runway (months of cash) 370.6 230.2 n/a n/a 21.6 83.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 May 21 Margaret B. Jula Common Stock Payment of exercise Dispose F No No 42.9 340 14.59K 32,919
17 May 21 Richard L. Stein Common Stock Payment of exercise Dispose F No No 42.9 410 17.59K 39,798
11 May 21 Timothy Spence Common Stock Sell Dispose S No No 41.6485 25,603 1.07M 162,918
6 May 21 Anderson Lars C Common Stock Sell Dispose S No No 41.3026 25,000 1.03M 125,430
5 May 21 Howard Hammond Common Stock Sell Dispose S No No 41.29 1,732 71.51K 51,592

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

79.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 815 744 +9.5%
Opened positions 140 172 -18.6%
Closed positions 69 51 +35.3%
Increased positions 250 228 +9.6%
Reduced positions 282 221 +27.6%
13F shares
Current Prev Q Change
Total value 20.83B 15.4B +35.3%
Total shares 556.24M 557.69M -0.3%
Total puts 1.91M 1.82M +4.6%
Total calls 2.33M 1.73M +34.3%
Total put/call ratio 0.8 1.1 -22.1%
Largest owners
Shares Value Change
Vanguard 83.49M $3.13B +1.3%
BLK Blackrock 53.47M $2B -5.2%
TROW T. Rowe Price 49.61M $1.86B -8.8%
STT State Street 37.31M $1.41B +1.3%
BAC Bank Of America 28.99M $1.09B -10.4%
Boston Partners 21.57M $807.73M +4.4%
IVZ Invesco 20.89M $782.15M -4.4%
Capital World Investors 18.58M $695.78M +3221.6%
Geode Capital Management 12.78M $477.31M +1.5%
Nuveen Asset Management 9.9M $370.69M +21.9%
Largest transactions
Shares Bought/sold Change
Capital World Investors 18.58M +18.02M +3221.6%
FMR 9.08M +7.92M +681.0%
Norges Bank 0 -7.87M EXIT
Citadel Advisors 120.69K -5.38M -97.8%
TROW T. Rowe Price 49.61M -4.79M -8.8%
BAC Bank Of America 28.99M -3.37M -10.4%
BLK Blackrock 53.47M -2.92M -5.2%
JPM JPMorgan Chase & Co. 9.89M -2.68M -21.3%
Hotchkis & Wiley Capital Management 0 -2.49M EXIT
PUKPF Prudential 311.25K -2.23M -87.8%

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, including denial of service, hacking and identity theft, which could result in the disclosure, theft or destruction of confidential information.
  • Fifth Third relies on its systems and certain third-party service providers and certain failures 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 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.
  • Financial disruption or a prolonged economic downturn could materially and adversely affect Fifth Third’s business.
  • 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.
  • 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.
  • Weather-related events, other 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.
  • Fifth Third is exposed to reputational risk.
  • 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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