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Fifth Third Bancorp

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Not a Bad Third Quarter for Fifth Third, Net Interest Income Growth More Than Overcomes Fee Slowdown

No-moat-rated Fifth Third's third-quarter results came in slightly short of expectations, with earnings of $0.91 per share 7% below FactSet consensus' projection of $0.97 per share and 10% below our own estimate of $1.01. Revenue of $2.17 billion was slightly below our forecast of $2.20 billion, with all of the shortfall coming from fees. With expenses falling in line with our expectations, it was lower fees and slightly higher provisioning that drove the earnings miss.

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