Fifth Third Bancorp Expects Accelerated Synergy Benefits from Comerica Acquisition

Fifth Third Bancorp reported Q4 earnings with a 22% YoY increase in diluted EPS to $1.04. The bank received regulatory and shareholder approvals for its Comerica acquisition, expected to close on Feb. 1. Management now expects the combined entity to achieve its original merger targets earlier than initially projected. The bank's standalone performance and updated guidance led to a mid-single-digit increase in Morningstar's fair value estimate for Fifth Third to $46.20.