Fifth Third Q4 Earnings Top Estimates
Fifth Third Bancorp reported full year 2014 net income, after preferred dividends, was $1.4 billion, down 21% compared with 2013 net income available to common shareholders of $1.8 billion.
Fourth quarter 2014 net income, after preferred dividends, was $362 million, or $0.43 per diluted share, compared to $383 million in the fourth quarter of 2013. Analysts polled by Thomson Reuters had expected EPS of $0.42.
Highlights from Q4 of the Fifth Third news release:
“Fifth Third reported full year net income available to common shareholders of $1.4 billion, which included solid performance across our business lines highlighted by growth in corporate banking, payments processing, and investment advisory revenue,” said Kevin T. Kabat, vice chairman and CEO of Fifth Third Bancorp. “Fourth quarter earnings of $385 million rounded out a solid year in a very tough operating environment. . We continue to make what we believe to be long-term value enhancing decisions when we deploy our shareholders’ equity and maintain our focus on earnings growth as we anticipate a healthier economy in 2015,” Kabat added.
To read the entire news release, click here.