Fifth Third Bancorp Q1 profit drops on merger charges

Fifth Third Bancorp

17/04/2026 11:40

Overview

U.S. regional bank's Q1 net income and EPS fell sharply due to merger-related charges

Net interest income rose 35% yr/yr, reflecting Comerica acquisition and lower funding costs

Company closed Comerica acquisition, driving strong loan and deposit growth

Outlook

Company expects ongoing financial synergies from Comerica acquisition integration

Merger-related expenses in Q1 represent about half of expected full-year charges

Company continues to prioritize growth in high quality, low-cost deposits

Result Drivers

COMERICA ACQUISITION - Comerica deal drove increases in loans, deposits, and net interest income, with early revenue synergies, per co

NONINTEREST INCOME GROWTH - Higher wealth management, commercial payments, and capital markets fees contributed to noninterest income growth, reflecting Comerica integration

MERGER-RELATED EXPENSES - Noninterest expense rose due to merger-related charges and seasonal compensation increases

Company press release: ID:nBwc1kkyVa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.15
Q1 Net Income
$128 mln
Q1 Net Interest Income
$1.93 bln
Q1 CET1 Capital Ratio
9.96%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "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 $56.00, about 13.1% above its April 16 closing price of $49.52

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)