Sees Q2 NII up 2%-3% vs. Q1, sees Q2 average loans and leases up approx. 1%, with noninerest income up 2%-6%, and noninterest expense down approx. 5%. Sees net charge off ratio 45-49bps, and an effective tax rate of 22%. Comments taken from slides being presented at the Morgan Stanley U.S. Financials Conference.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FITB:
- Fifth Third price target raised to $52 from $48 at Wells Fargo
- Fifth Third upgraded to Buy from Neutral at DA Davidson
- Positive Outlook for Fifth Third Bancorp Driven by Strategic Initiatives and Resilient Revenue Sources
- Fifth Third initiated with a Buy at Jefferies
- Fifth Third Bancorp: Strategic Growth and Financial Stability Drive Buy Rating
