Fifth Third Sells Several Businesses
December 23, 2020
Encouraging news for a Cincinnati-based bank’s shareholders as Fifth Third Bancorp sells several businesses. Jim Russell spoke with Steve Watkins of the Cincinnati Business Courier about potential moves.
“It’s highly likely” that Fifth Third will buy back stock next year, Russell told me. On average, large banks have about 20% more capital than the Fed requires, Russell said.
“That suggests the capital return to shareholders in the form of share repurchases and increased dividends will be significant. There’s a big pot of money sitting there.”
Jim Russell, CFA, CIC
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