Fifth Third Bancorp (NASDAQ:FITB) reported its fourth-quarter earnings better than expected, driven by slightly higher (pre-provision net revenue) PPNR and a lower provision, according to Goldman Sachs.
The Fifth Third Bancorp Analyst: Analyst Ryan Nash reiterated a Buy rating and a $365 price target.
The Fifth Third Bancorp Thesis: The company announced PPNR of $1.08 billion, better than the consensus of $1.07 billion, “driven by higher fees with a beat on commercial payments and capital markets revenue.” Nash said in the …