5/3 stock on the rise, 8% the last two days
March 8, 2021
A Wall Street investment firm lifts its rating on Fifth Third’s stock… Jim Russell notes resulting stock prices and tells Cincinnati Business Courier’s Steve Watkins more about the trend.
“Fifth Third is very well-positioned to take full advantage of the emerging (positive) operating environment in a post-COVID domestic economy,” Russell told me. “Large loan loss provisions, slightly higher market-based interest rates and ample capital on Fifth Third’s balance sheet are positives that place the bank at the top of the regional banking class. Higher dividends later this year are an expectation once regulatory authorities allow this action. Modest acquisition activity by all regional banks, including FITB cannot be ruled out.
Jim Russell, CFA, CIC
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