Fifth Third beats Street 3Q forecasts

Markets Associated Press

Fifth Third Bancorp (FITB) on Thursday reported third-quarter earnings of $516 million.

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The bank, based in Cincinnati, said it had earnings of 65 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The regional bank posted revenue of $1.75 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.66 billion.

Fifth Third shares have increased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. The stock has increased roughly 8 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FITB at http://www.zacks.com/ap/FITB

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Keywords: Fifth Third Bancorp, Earnings Report