In the first quarter Fifth Third reported earnings of 36 cents a shares, missing the Capital IQ Consensus Estimate of 42 cents a share by 6 cents.
The bank reported net income available to common shareholders in the quarter of $309 million, or 36 cents a share, compared to $413 million, or 46 cents a share, in the year-ago quarter. Net interest income increased 1% to $898 million with a net interest margin of 3.22%.
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TheStreet Ratings team rates FIFTH THIRD BANCORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate FIFTH THIRD BANCORP (FITB) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins, good cash flow from operations, notable return on equity and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: