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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Fifth Third Bancorp    FITB

FIFTH THIRD BANCORP

(FITB)
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Regional Lenders See Credit-Loss Provisions Fall; Fifth Third Logs Benefit

01/21/2021 | 08:34am EST

By Allison Prang

Here is a look at credit quality at some of the country's banking companies for the fourth quarter as the Covid-19 pandemic continues to weigh on consumers and businesses.

TRUIST FINANCIAL:

--The provision for credit losses was $177M, down from $421M for 3Q.

--Nonperforming loans and leases as a percentage of loans and leases, including loans held for sale, were 0.44%. They increased from 0.4% in 3Q.

--Net charge-offs as a percentage of average loans and leases on an annualized basis were 0.27%, a drop from 0.42% in 3Q.

FIFTH THIRD:

--The company logged a benefit from credit losses of $13 million, compared with a $15 million benefit for 3Q.

--The company's NPL ratio was 0.77%. It declined from 0.8% in 3Q.

--Fifth Third's net charge-off ratio was 0.43%, up from 0.35% in 3Q.

KEY:

--The provision for credit losses was $20 million, down from $160 million in 3Q, Key said.

--Nonperforming loans as a percentage of portfolio loans at the end of the period ere 0.78%, Key said. For 3Q, they were 0.81%.

--Net loan charge-offs to average total loans were 0.53%. That metric increased from 0.49% in 3Q.

M&T BANK:

--M&T's provision for credit losses was $75 million, down from $150 million in 3Q.

--Nonaccrual loans as a percentage of outstanding loans were 1.92%. That rose from 1.26% in 3Q.

--Net charge-offs as a percentage of average loans on an annualized basis were 0.39%, up from 0.12% in 3Q.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

01-21-21 0834ET

Stocks mentioned in the article
ChangeLast1st jan.
FIFTH THIRD BANCORP 3.34% 36.25 Delayed Quote.31.48%
KEYCORP 3.81% 21.54 Delayed Quote.26.45%
M&T BANK CORPORATION 1.73% 162.13 Delayed Quote.27.36%
TRUIST FINANCIAL CORPORATION 2.45% 60.17 Delayed Quote.25.54%
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Financials (USD)
Sales 2020 7 600 M - -
Net income 2020 1 250 M - -
Net Debt 2020 - - -
P/E ratio 2020 21,0x
Yield 2020 2,98%
Capitalization 25 838 M 25 838 M -
Capi. / Sales 2020 3,40x
Capi. / Sales 2021 3,40x
Nbr of Employees 19 872
Free-Float 76,9%
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Technical analysis trends FIFTH THIRD BANCORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 34,57 $
Last Close Price 36,25 $
Spread / Highest target 15,9%
Spread / Average Target -4,62%
Spread / Lowest Target -25,5%
EPS Revisions
Managers and Directors
NameTitle
Gregory D. Carmichael Chairman & Chief Executive Officer
Timothy Spence President
James C. Leonard Chief Financial Officer & Executive Vice President
Jude A. Schramm Chief Information Officer & Executive VP
Gary R. Heminger Independent Director
Sector and Competitors