Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Fifth Third Bancorp    FITB

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Fifth Third Says Federated Investors Acquiring $5 Billion Of Money Market Assets

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/05/2012 | 04:13pm CET

Fifth Third Bancorp (>> Fifth Third Bancorp) said its asset management arm will shed some assets, including roughly $5 billion of money market assets being acquired by investment manager Federated Investors Inc. (FII).

Under Fifth Third's deal with the firm, the money market assets will be reorganized from four Fifth Third money market funds into four existing Federated money market funds with similar investment objectives.

The transaction, expected to be completed in the third quarter, isn't seen having a material impact on Fifth Third's results.

"This action reduces risk and moves us more closely to trusted advisor status by being able to offer clients a broader choice of investment products," said Chief Executive Kevin T. Kabat.

Also Thursday, the bank said Touchstone Advisors, a mutual fund unit of Western & Southern Financial Group Inc., will acquire the assets of 16 of its mutual funds. Fifth Third Asset Management's affiliated investment mangers will continue as sub-advisors for some of the funds.

The moves come after Fifth Third saw its request to raise its dividend and begin buying back shares rejected by the Federal Reserve last month following completion of the regulator's latest "stress tests" for the nation's largest banks.

Fifth Third at the time declined to say why the Fed objected, citing regulatory reasons, but said it would resubmit the plan "as soon as practicable."

Shares were recently up 6 cents to $14.54.

 
   -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com 

Stocks mentioned in the article : Fifth Third Bancorp
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FIFTH THIRD BANCORP
02/27 FIFTH THIRD BANCORP : Regulation FD Disclosure (form 8-K)
02/27 FIFTH THIRD BANCORP : Announces Acquisition of R.G. McGraw Insurance Agency Inc...
02/27 FIFTH THIRD BANCORP : Announces Acquisition of R.G. McGraw Insurance Agency Inc.
02/24 FIFTH THIRD BANCORP : Management's Discussion and Analysis of Financial 31-91 Co..
02/17 FIFTH THIRD BANCORP : ‘Premier Market'
02/16 FIFTH THIRD BANCORP : Bank Announces Launch of ABLE Checking Option in 11 States..
02/14 FIFTH THIRD BANK : Announces Launch of ABLE Checking Option in 11 States as Part..
02/08 DIEBOLD NIXDORF : The Dekabank Deutsche Girozentrale Purchases Shares of 9,114 D..
02/07 FIFTH THIRD BANCORP : Post Earnings Coverage as Fifth Third Bancorp's Q4 EPS Out..
02/06 FIFTH THIRD BANCORP : Creation of a Direct Financial Obligation or an Obligation..
More news
Sector news : Commercial Banks
04:18p BARCLAYS : Ex-Barclays traders put money before honesty, UK court hears
03:49p Wells Fargo robo-adviser to target young, first-time investors
03:37p JPMORGAN CHASE : to spend more to grow credit cards, improve technology
03:17pDJBANK OF NOVA SCOTIA : Scotiabank Profit Climbs 11% -- Update
02:34p Bank of England's Hogg gets rough ride from lawmakers
More sector news : Commercial Banks
News from SeekingAlpha
02/24 Banks give some back as rates sink to 2017 low
02/23 Bank Of America And Citi Are Leading Bank Performance
02/21 These Regional Banks Are Set To Soar Now That Tarullo Is Out
02/14 Dollar, banks on the move as Yellen leans hawkish
02/11 Alpha From Equal-Weight Industries
Advertisement
Financials ($)
Sales 2017 6 204 M
EBIT 2017 2 180 M
Net income 2017 1 346 M
Debt 2017 -
Yield 2017 2,12%
P/E ratio 2017 15,29
P/E ratio 2018 13,72
Capi. / Sales 2017 3,33x
Capi. / Sales 2018 3,19x
Capitalization 20 691 M
More Financials
Chart FIFTH THIRD BANCORP
Duration : Period :
Fifth Third Bancorp Technical Analysis Chart | FITB | US3167731005 | 4-Traders
Full-screen chart
Technical analysis trends FIFTH THIRD BANCORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 31
Average target price 27,5 $
Spread / Average Target -0,35%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Gregory D. Carmichael President, Chief Executive Officer & Director
Marsha Cole Williams Non-Executive Chairman
Lars C. Anderson Chief Operating Officer & Executive Vice President
Aravind Immaneni Chief Operations & Technology Officer, EVP
Tayfun Tuzun Chief Financial Officer & Executive Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
FIFTH THIRD BANCORP1.30%20 691
HSBC HOLDINGS PLC-1.66%159 876
AGRICULTURAL BANK OF C..5.48%153 199
AUSTRALIA AND NEW ZEAL..1.78%69 627
JAPAN POST BANK CO LTD-0.07%56 085
SHANGHAI PUDONG DEVELO..3.08%52 219
More Results