Fifth Third: It's Really Not That Bad Out There
* Fifth Third's stock has significantly underperformed the broader market so far in 2020. * The bank reported Q3 2020 results that were actually well-received by the market, unlike most of * the other banks that I follow. * The operating environment for Fifth Third will be challenging through at least the end of 2020, but the backdrop is really not that bad. * We're long Fifth Third, and we have no plans to reduce our stake in the near future.
Fifth Third's ($FITB) stock has significantly underperformed the broader market over the last year, and it has been pretty much the same story so far in 2020. The COVID-19 (and low interest rate) environment is going to be a significant headwind for Fifth Third, and the other regional banks, through at least the end of 2020 but I think that investors with a time horizon longer than a year or two should seriously consider staying the course.
Read more here.