RBC Capital lowered the firm’s price target on Fifth Third to $34 from $36 but keeps an Outperform rating on the shares. The company’s Q2 results saw “solid performance” despite the challenging environment, the analyst tells investors in a research note. While management decided to pause buybacks, the bank remains well-capitalized with a CET1 ratio of 9.5%, RBC added, stating that company’s deposit mix should “shine” over the next 12-18 months.
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