Fifth Third Bancorp
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23 декабря 2017, 00:00

The Trickle-Down Mythmaking Begins

Annie Lowrey, The AtlanticAfter Congressional Republicans passed their $1.5 trillion package of tax cuts on Wednesday, a number of companies responded by announcing raises or bonuses for their workers. Comcast said it would give $1,000 bonuses to more than 100,000 workers. Fifth Third Bancorp said it would give out bonuses and boost its minimum wage, with the cut giving the bank, in its words, “the opportunity to reevaluate its compensation structure and share some of those benefits with its talented and dedicated workforce.” AT&T, Boeing, Washington Federal, and Wells Fargo did much the same.

22 декабря 2017, 20:13

The Trickle-Down Mythmaking Begins

Several companies gave out raises after tax cuts passed Congress. But that was probably already going to happen anyway.

22 декабря 2017, 17:45

Stock Market News For Dec 22, 2017

Benchmarks finished in the green on Thursday following gains in bank and energy stocks

22 декабря 2017, 16:50

The Zacks Analyst Blog Highlights: Wells Fargo, JPMorgan, Bank of America, Washington Federal and Fifth Third Bancorp

The Zacks Analyst Blog Highlights: Wells Fargo, JPMorgan, Bank of America, Washington Federal and Fifth Third Bancorp

21 декабря 2017, 22:47

Christmas Comes Early for Bank Stocks: Tax Reform Bill Passed

Tax reform bill will help the banks to gain from increased earnings and higher revenues going forward.

21 декабря 2017, 18:37

Tax Cut To Boost GDP?

Tax Cut To Boost GDP?

21 декабря 2017, 18:23

Will Tax Cuts Keep Us at 3% GDP?

The U.S. economy keeps a 3-handle for back-to-back quarters for the first time in a couple years.

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21 декабря 2017, 02:04

HEY, HOW ABOUT THAT? AT&T is giving $1,000 bonuses to 200,000 employees after tax bill. Plus: B…

HEY, HOW ABOUT THAT? AT&T is giving $1,000 bonuses to 200,000 employees after tax bill. Plus: Boeing CEO Dennis Muilenburg unveils $300M in initiatives in response to tax bill. And: Wells Fargo, Fifth Third Bancorp unveil minimum wage hikes after tax bill passage. UPDATE: Instant Boom: Five American Businesses Announce Major Bonuses For Employees Because […]

21 декабря 2017, 01:11

Wells Fargo, Fifth Third, Comcast Unveil Minimum Wages Hike, Bonus Payments After Tax Reform Passes

Update: Add Comcast to the list   #winning pic.twitter.com/QBForn6EeF — Phil Kerpen (@kerpen) December 20, 2017 * * * AT&T's announcement that it would boost US capex by $1 billion and pay a $1,000 special bonus to 200,000 employees once Trump signs the Tax Cut bill into law (ideally before the holidays), has unleashed a veritable torrent of trickle down economics. And who would have thought that the "Fight for $15" movement would see some of America's biggest banks as its latest members. Shortly after the AT&T announcement, and just an hour after the passage of the Republican Tax Cuts and Jobs Act which cuts corporate taxes, in an attempt to be among the first to win the administration's benevolence, Fifth Third Bancorp said that just like AT&T, it would pay more than 13,500 employees a bonus and raise the minimum wage of its workforce to $15 an hour. In total, approximately 75% of employees will receive a pay increase or bonus. Senior managers and top executives are excluded from the special payments. Cincinnati-based Fifth Third, the fifteenth largest U.S. bank by asset size, said the tax cut allowed it to re-evaluate its employee pay and pass along some of the windfall. Nearly 3,000 workers will see hourly wages rise to $15. The $1,000 one-time bonus is expected to be paid by the end of this year, the bank said, assuming President Donald Trump signs the bill into law by Christmas. "We want to invest in our most important asset – our people,” said Fifth Third President and CEO Greg Carmichael. "Our employees drive our reputation, our business and our success.”   Carmichael said the higher wage is an important step to help support individuals, their families and the communities in which we operate. Fifth Third has a history of investing in its 18,000 employees. Once the legislation is signed into law, nearly 3,000 hourly employees will see their pay increase to $15 an hour. The one-time $1,000 bonus is expected to be distributed by the end of the year, assuming the president signs the bill before Christmas. Senior managers and executive leadership are excluded from this compensation.   "It is good for our communities, employees and Fifth Third Bank,” Carmichael said. At almost the exact same time, scandal-plagued Wells Fargo also said it would be boosting its minimum wage for employees to $15 an hour, to 11% from the current minimum wage of $13.50, which was prompted by the GOP tax plan. Warren Buffet's favorite bank also said it would target $400 million in donations to community and nonprofit organizations next year, and also announced that beginning in 2019, it will target 2% of its after-tax profits for corporate philanthropy. “We believe tax reform is good for our U.S. economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners,” said President and CEO Tim Sloan. “We look forward to identifying additional opportunities for Wells Fargo to invest, as we continue to execute our business strategies and provide long-term value to all our stakeholders. As the nation’s largest small business lender and residential mortgage provider, we understand our significant role in helping grow the economy.”   “We’re ensuring that Wells Fargo is a great place to work by offering market-competitive compensation, career development opportunities, and a broad array of benefits,” Sloan said. “In addition to today’s announcement, over the past year we have added four additional paid holidays per year; enhanced our parental, caregiving, and backup adult care paid leave programs; and announced plans to grant restricted stock awards to approximately 250,000 team members that will vest in two years subject to grant terms. These awards are generally equivalent to 50 shares of Wells Fargo stock for eligible full-time team members and 30 shares for eligible part-time team members.” In light of the bad press the bank has received in recent years, Wells' attempt to mollify the general population, and the administartion, was to be expected. Furthermore, the bank's generosity is hardly a shock following Goldman's Monday calculation that Wells Fargo stands to benefit the most from all US banks, with up to 18% in EPS upside as a result of its lowered income tax. And while it is certain that Wells' benefits from tax cuts will more than outweigh any compsenation increases or philanthropy, it is also assured that many more banks will follow in these two banks footsteps as US corporations scramble to demonstrate their generous conscience, and "civic duty", by returning if only a fraction of tax cut benefits to their employees and community. And who knows, maybe this time trickle down will actually work.

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18 декабря 2017, 17:17

Fifth Third Bancorp to buy $273 mln worth of its stock from Morgan Stanley

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12 декабря 2017, 21:12

Fifth Third Bancorp stock price target raised to $29 from $26 at UBS

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24 ноября 2017, 17:46

Focus on Vanguard Strategic Equity Investor Fund (VSEQX)

Vanguard Strategic Equity Investor Fund (VSEQX) seeks the maximum long-term capital growth

27 октября 2017, 22:42

Bank Stock Roundup: Q3 Earnings at Tail End - COF Tops, FITB, STI, RF In-Line

Banks' decent Q3 financial performance cheered investors and stocks indicated a bullish stance over the last five trading days.

24 октября 2017, 16:41

Fifth Third's (FITB) Q3 Earnings & Revenues Meet Estimates

Fifth Third (FITB) Q3 results benefited from higher net interest income and lower provisions. Lower fee income was a headwind.

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24 октября 2017, 14:13

Fifth Third's (FITB) Q3 Earnings In Line with Estimates

Fifth Third came out with adjusted earnings per share of 48 cents, in line with the Zacks Consensus Estimate of 48 cents.

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06 октября 2017, 17:46

Fifth Third Bancorp stock price target raised to $26 vs. $25 at UBS

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

28 сентября 2017, 16:30

Fifth Third (FITB) Displays Revenue & Earnings Strength

Fifth Third Bancorp (FITB) is one such stock which will not disappoint investors over the long term, based on revenue performance and improving efficiency level through implementation of various plans.

26 сентября 2017, 13:27

The Zacks Analyst Blog Highlights: Mondelez, Colgate-Palmolive, Stryker, Nike and Fifth Third Bancorp

The Zacks Analyst Blog Highlights: Mondelez, Colgate-Palmolive, Stryker, Nike and Fifth Third Bancorp