Fifth Third Bancorp Trading Lower on Downbeat Q4 Earnings
Fifth Third Bancorp (NASDAQ: FITB) is trading lower on the session following its Q4 earnings announcement this morning. The company reported Q4 EPS of $0.33 vs $0.36 estimate.
Kevin T. Kabat, president and CEO of Fifth Third Bancorp. said “Throughout 2011, we have seen solid expansion of the loan portfolio through our lending activities, although demand remained relatively soft, with total loan growth of 5 percent from a year ago. The fourth quarter saw a significant pick-up in demand and loan growth, with end of period total loan growth of 2 percent, including 5 percent in C&I lending which continues to be a strength for us."
Fifth Third Bancorp is currently trading at $12.98, a loss of $0.59 or 4.31%.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.