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Fifth Third to Appoint 1,000 Employees Amid Coronavirus Crisis
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Amid coronavirus crisis, Fifth Third Bancorp (FITB - Free Report) is on a hiring spree to cater to the demand of increased Small Business Administration-backed loans followed by the $2-trillion federal Coronavirus Aid, Relief and Economic Security (CARES) Act, passed this March. Notably, this package would dedicate $350 billion worth small business loans.
Cincinnati, OH-based Fifth Third plans to appoint nearly 1,000 employees in retail banking centers, mortgage and operations in branches all over, including higher numbers in the bank’s headquarters. The roles will "provide essential banking services to customers and offer new career opportunities for those searching for employment during economic hardship."
"Our Fifth Third customers and communities need us more than ever during these uncertain times, and we will continue to be here for them," said Greg D. Carmichael, chairman, president and CEO of Fifth Third. "I’m proud of the extraordinary service our employees are providing each day. We are looking to grow our team of professionals to serve these needs and to help provide critical employment opportunities so our communities can get back to work again," noted the CEO.
The roles offered include 500 positions in retail, 350 mortgage sales and support positions, along with 100 positions in operations. Fifth Third is also providing attractive benefits package to retain the workforce.
Notably, banks are transitioning employees to work remotely in a bid to contain the spread of COVID-19. Fifth Third is also catering protective measures for both employees and customers, and offering enhanced digital operations, including online or mobile banking, along with fee-free ATMs.
"We continue to take good care of our employees so they can continue to take good care of our customers," Carmichael said. "Now more than ever, our customers are counting on us to provide them with the financial expertise and essential banking services necessary to navigate uncertainty," he further added.
Currently, Fifth Third carries a Zacks Rank #4 (Sell).
Shares of this banking giant have recorded a year-to-date decline of 49.6% compared with the 45% decrease recorded by the industry.
Key Picks From the Sector
Meridian Bancorp, Inc. has witnessed upward earnings estimate revisions for 2020 over the past 60 days. Also, this Zacks #1 Ranked (Strong Buy) stock has plunged 43.2% over the past six months. You can see the complete list of today’s Zacks #1 Rank stocks here.
Waterstone Financial, Inc.’s (WSBF - Free Report) ongoing-year earnings estimate moved up in the past 60 days. Further, the company’s shares have declined 20.3% over the past six months. At present, it carries a Zacks Rank of 2 (Buy).
Evercore Inc’s (EVR - Free Report) current-year earnings estimate moved north in 60 days’ time. Additionally, the stock has depreciated 33.4% over the past six months. It currently carries a Zacks Rank #2.
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Fifth Third to Appoint 1,000 Employees Amid Coronavirus Crisis
Amid coronavirus crisis, Fifth Third Bancorp (FITB - Free Report) is on a hiring spree to cater to the demand of increased Small Business Administration-backed loans followed by the $2-trillion federal Coronavirus Aid, Relief and Economic Security (CARES) Act, passed this March. Notably, this package would dedicate $350 billion worth small business loans.
Cincinnati, OH-based Fifth Third plans to appoint nearly 1,000 employees in retail banking centers, mortgage and operations in branches all over, including higher numbers in the bank’s headquarters. The roles will "provide essential banking services to customers and offer new career opportunities for those searching for employment during economic hardship."
"Our Fifth Third customers and communities need us more than ever during these uncertain times, and we will continue to be here for them," said Greg D. Carmichael, chairman, president and CEO of Fifth Third. "I’m proud of the extraordinary service our employees are providing each day. We are looking to grow our team of professionals to serve these needs and to help provide critical employment opportunities so our communities can get back to work again," noted the CEO.
The roles offered include 500 positions in retail, 350 mortgage sales and support positions, along with 100 positions in operations. Fifth Third is also providing attractive benefits package to retain the workforce.
Notably, banks are transitioning employees to work remotely in a bid to contain the spread of COVID-19. Fifth Third is also catering protective measures for both employees and customers, and offering enhanced digital operations, including online or mobile banking, along with fee-free ATMs.
"We continue to take good care of our employees so they can continue to take good care of our customers," Carmichael said. "Now more than ever, our customers are counting on us to provide them with the financial expertise and essential banking services necessary to navigate uncertainty," he further added.
Currently, Fifth Third carries a Zacks Rank #4 (Sell).
Shares of this banking giant have recorded a year-to-date decline of 49.6% compared with the 45% decrease recorded by the industry.
Key Picks From the Sector
Meridian Bancorp, Inc. has witnessed upward earnings estimate revisions for 2020 over the past 60 days. Also, this Zacks #1 Ranked (Strong Buy) stock has plunged 43.2% over the past six months. You can see the complete list of today’s Zacks #1 Rank stocks here.
Waterstone Financial, Inc.’s (WSBF - Free Report) ongoing-year earnings estimate moved up in the past 60 days. Further, the company’s shares have declined 20.3% over the past six months. At present, it carries a Zacks Rank of 2 (Buy).
Evercore Inc’s (EVR - Free Report) current-year earnings estimate moved north in 60 days’ time. Additionally, the stock has depreciated 33.4% over the past six months. It currently carries a Zacks Rank #2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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