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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Fifth Third Bancorp    FITB

FIFTH THIRD BANCORP

(FITB)
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Fifth Third Bancorp to Raise Minimum Wage to $18/Hour From $15

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08/06/2019 | 09:31am EDT

By Colin Kellaher

Fifth Third Bancorp (FITB) on Tuesday said it would raise its minimum wage to $18 an hour from $15, marking its second large increase in less than two years.

The Cincinnati financial-services company said the increase, effective Oct. 28, covers roughly 4,900 employees and represents an additional annual investment in its workforce of about $15 million.

Fifth Third said the increase, coupled with a January 2018 boost to $15 from $12, represents a 50% rise in its minimum wage since the beginning of last year.

The company said last year's pay increase contributed to a 16% year-over-year reduction in employee turnover in jobs most affected by the minimum wage.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BANCORP INC -0.49% 10.08 Delayed Quote.27.14%
CINCINNATI FINANCIAL CORPORATION -0.32% 113.99 Delayed Quote.47.64%
FIFTH THIRD BANCORP -0.18% 27.9 Delayed Quote.18.78%
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Financials (USD)
Sales 2019 7 736 M
EBIT 2019 3 173 M
Net income 2019 2 232 M
Debt 2019 -
Yield 2019 3,42%
P/E ratio 2019 9,01x
P/E ratio 2020 9,31x
Capi. / Sales2019 2,60x
Capi. / Sales2020 2,57x
Capitalization 20 089 M
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Technical analysis trends FIFTH THIRD BANCORP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 31,37  $
Last Close Price 27,95  $
Spread / Highest target 21,6%
Spread / Average Target 12,2%
Spread / Lowest Target 0,18%
EPS Revisions
Managers
NameTitle
Gregory D. Carmichael Chairman, President & Chief Executive Officer
Lars C. Anderson Co-Chief Operating Officer & Executive VP
Aravind Immaneni Co-COO, Chief Technology Officer & Executive VP
Tayfun Tuzun Chief Financial Officer & Executive Vice President
Sid Deloatch CIO-Corporate & Enterprise Solutions
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