Comerica acquisition - Full-quarter contribution from Comerica drove increases in net interest income, noninterest income, loans, and deposits
Fee income growth - Fee businesses including wealth and asset management, commercial payments, and capital markets saw strong momentum
Integration and outlook
Company says Comerica integration remains on track, with systems conversion scheduled for Labor Day weekend
Company expects revenue synergies to emerge across expanded footprint following Comerica integration
Fifth Third says balance sheet is positioned to support net interest margin expansion and improved credit performance
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.83
Q2 Net Income
$763 mln
Q2 Net Interest Income
$2.22 bln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Fifth Third Bancorp is $63.00, about 6.1% above its July 16 closing price of $59.37
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