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Diversified financial services company Fifth Third Bancorp ( FITB) has reported better-than-expected results for the third quarter of 2021 on the back of robust revenue growth and lower...
Fifth Third Bank ( 5/3 Bank ), the principal subsidiary of Fifth Third Bancorp, is an American bank holding company headquartered in Cincinnati, Ohio. Fifth Third is one of the largest consumer banks in the Midwestern United States . Fifth Third's client base spans retail, small business, corporate, and investment clients.
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Fifth Third Bancorp has traded for an average of 21 times earnings since 1987 -- just below the 24 times earnings for the broader S&P 500. Through it all, shares have been disappointments over...
Fifth Third Bancorp v. Dudenhoeffer, 573 U.S. 409 (2014), was a United States Supreme Court case in which the court found Employee stockownership fiduciaries have the same prudential duties as non-ESOP fiduciaries, as set by ERISA, except that they are not required to diversify their investments beyond shares of the employer's stock.
In 1971, Fifth Third Bank formed Midwest Payment Systems (MPS) to provide Electronic Funds Transfer (EFT) services to financial institutions. In 1977, Jeanie, the nation's first shared online ATM network was developed and implemented. In 1991, MPS expanded to offer Merchant Services.
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