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Fifth Third Bancorp FITB

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More of the Same From the Fed in Latest Meeting; We Still Expect Accommodative Lean for Some Time

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

In its latest statement on Jan. 27, the Federal Open Market Committee unsurprisingly held the federal-funds rate at 0.0%-0.25%. Though some of the voting members changed because of the new year, the vote was still unanimous. The Federal Reserve continues to signal that it will remain very accommodative for some time and that it plans to hold off on any less accommodative measures until the recovery in the labor market and the economy, along with a recovery in inflation, is essentially completed. We anticipate that the FOMC will be in a holding pattern for some time, with the meetings and releases likely to be relatively mundane for a while.

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Company Profile

Business Description

Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati, Ohio. The company has over $200 billion in assets and operates numerous full-service banking centers and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.

Contact
38 Fountain Square Plaza
Cincinnati, OH, 45263
T +1 800 972-3030
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 19,872

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