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After major banks kickstarted the earnings season with upbeat sets of earnings, Truist Financial Corp and Fifth Third Bancorp are now attracting retail interest following their latest quarterly results announcements. Here’s a look at how these lenders performed during the quarter and how retail investors are perceiving the numbers:1. Truist Financial Corp: The bank’s second quarter earnings topped analyst estimates with adjusted revenue coming in at $5.02 billion as compared to a Street estimate of $4.78 billion. Earnings per share (EPS) for the quarter stood at $0.91 as compared to an estimate of $0.82. Net interest income, the difference between interest earned and interest expended, came in at $3.58 billion, slightly lower than the $3.66 billion recorded during the same quarter a year ago. Net interest margin (NIM) improved to 3.03% compared to 2.90% in Q2 of 2023. In line with the performance of other Wall Street banks, investment banking and trading income increased 35% YoY to $286 million during the quarter.However, what appeared to have disappointed investors is the 32% fall in the bank’s net income at $920 million. Also, the bank reported securities losses of $6.70 billion ($5.10 billion after-tax), or $3.80 per share, from the strategic balance sheet repositioning of a portion of the available-for-sale investment securities portfolio. Following the announcement, retail sentiment on Stocktwits dipped into the bearish territory (26/100) supported by extremely high message volume.<figure class="image"><img style="aspect-ratio:789/219;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_22_at_10_31_49_AM_2d22607610.png" alt="Retail sentiment trends in bearish territory for Truist Financial Corp following earnings" width="789" height="219"><figcaption>Retail sentiment trends in bearish territory for Truist Financial Corp following earnings announcement</figcaption></figure>2. Fifth Third Bancorp: The lender, which is one of the largest banks in mid-western US, reported a 5% year-over-year (YoY) decline in its GAAP net interest income at $1.39 billion during the second quarter. Earnings per share came in flat at $0.81 but missed a Street estimate by four cents. Net interest margin fell to 2.88% in Q2 as compared to 3.10% in the same period a year ago.However, the bank said this is the first quarter that witnessed sequential NII growth since 2022. For the third quarter, the bank expects a sequential improvement of about 2% in its NII and a 1-2% rise in its non-interest income as well. Meanwhile, a DA Davidson analyst raised the target price on the stock to $42 from the previous $39 while maintaining a ‘Neutral’ stance on the stock. Following the announcements, retail sentiment was trending in the bullish territory (73/100), supported by extremely high chatter.<figure class="image"><img style="aspect-ratio:794/223;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_22_at_10_32_59_AM_bac2bb303b.png" alt="Retail sentiment trends in the bullish territory for Fifth Third Bancorp" width="794" height="223"><figcaption>Retail sentiment trends in the bullish territory for Fifth Third Bancorp</figcaption></figure>&nbsp;

Retail Investors Have A Completely Different Take On Truist Financial Corp And Fifth Third Bancorp Post Earnings

Retail sentiment around Truist dipped into the bearish territory (26/100) following its earnings announcement. 

Equity

Retail sentiment around Truist dipped into the bearish territory (26/100) following its earnings announcement. However, investors appeared enthused with the numbers announced by Fifth Third Bancorp with the sentiment meter trending in the bullish zone (73/100).

Analyst Report: Fifth Third Bancorp

Fifth Third Bancorp (FITB) Gets a Hold from KBW

KBW analyst David Konrad assigned a Hold rating to Fifth Third Bancorp (FITB Research Report) yesterday and set a price target of $41.00. The com...

Fifth Third named U.S. Best Super-Regional Bank by Euromoney

Fifth Third is proud to announce it has been named U.S. Best Super-Regional Bank by Euromoney in the magazines 2024 Awards for Excellence. The 2024 Euromoney Awards for Excellence program evaluates...

Fifth Third Bancorp Reports Second Quarter 2024 Diluted Earnings Per Share of $0.81

Fifth Third Bancorp (NASDAQ: FITB): Key Financial Data Key Highlights $ in millions for all balance sheet and income statement items 2Q24 1Q24 2Q23 Stability: Continued repricing benefit on fixed...

First Horizon Stock Slides as Regional Bank Lowers Outlook, Earnings Miss

Elijah Nouvelage / Bloomberg via Getty Images

 Key TakeawaysFirst Horizon Corp. shares fell in intraday trading Wednesday after the company reported second-quarter results lower than...

Fifth Third Again Receives Top Score on Disability Equality Index

For the fourth consecutive year, Fifth Third Bank has received a top score of 100 on the Disability Equality Index , the leading independent, third-party resource for the annual benchmarking of...

What To Expect in the Markets This Week

Coming up: Powell remarks, GOP Convention, earnings from big banks, Netflix earnings

 Al Drago / Bloomberg via Getty Images

 Key TakeawaysFederal Reserve Chairman Jerome Powell speaks...

Fifth Third Bank Financial Empowerment Mobile Serves More Than 1,000 Residents in First 60 Days

The Fifth Third Bank Financial Empowerment Mobile, commonly known as the eBus, brings financial access, social services and education directly into communities across the Banks 11-state footprint...

Fifth Third Takes the Stress Out of Banking

Customers want their banks to work for them to enable their goals, not to create new sources of complexity and potential challenges in their financial lives. This year, Fifth Third accepted the...

Fifth Third Bancorp is a bank holding company, which engages in the provision of diversified financial services. It operates through the following segments: Commercial Banking, Consumer and Small Business Banking, Wealth and Asset Management, and General Corporate and Other. The Commercial Banking segment offers credit intermediation, cash management, and financial services to large and middle-market businesses and government and professional customers. The Consumer and Small Business Banking segment provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. The Wealth and Asset Management segment is involved in wealth management solutions for individuals, companies, and not-for-profit organizations including wealth planning, investment management, banking, insurance, trust, and estate services. The General Corporate and Other segment focuses on the unallocated portion of the investment securities portfolio, securities gains and losses, certain non-core deposit funding, unassigned equity, unallocated provision for credit losses or a benefit from the reduction of the allowance for credit losses, the payment of preferred stock dividends, and certain support activities. The company was founded on October 7, 1974 and is headquartered in Cincinnati, OH.

Volume	2.97M
52-Wk High	$42.27
52-Wk Low	$22.49

FITB Fifth Third Bancorp

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