Shares of Berkshire Hathaway Inc. (NYSE:BRK.B) ended Friday session in red amid volatile trading. The shares closed down -1.65 points or -1.13% at $145.01 with 11.13 million shares getting traded. Post opening the session at $146.11, the shares hit an intraday low of $144.68 and an intraday high of $146.23 and the price vacillated in this range throughout the day. The company has a market cap of $350.84 billion and the numbers of outstanding shares have been calculated to be 1.28 billion shares.
Berkshire Hathaway Inc. (BRK.B) engaged in various business activities. The Company conducts insurance businesses on both a primary basis and a reinsurance basis, a freight rail transportation business and a group of utility and energy generation and distribution businesses. Its segments include GEICO, General Re Corporation (General Re), Berkshire Hathaway Reinsurance Group (BHRG), Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, Manufacturing, McLane Company, Service and retailing, and Finance and financial products. Its insurance and reinsurance business activities are conducted through various domestic and foreign-based insurance entities. Its insurance businesses provide insurance and reinsurance of property and casualty risks, and also reinsure life, accident and health risks across the world.
Shares of Fifth Third Bancorp (NASDAQ:FITB) ended Friday session in red amid volatile trading. The shares closed down -0.08 points or -0.39% at $20.46 with 11.06 million shares getting traded. Post opening the session at $20.38, the shares hit an intraday low of $20.30 and an intraday high of $20.56 and the price vacillated in this range throughout the day. The company has a market cap of $15.69 billion and the numbers of outstanding shares have been calculated to be 766.37 million shares.
On Sept. 14, 2016 GreenSky, LLC, announced a groundbreaking partnership with Fifth Third Bancorp (FITB) designed to add significant strategic value to both organizations and their customers.
The comprehensive agreement enables Fifth Third to originate loans through GreenSky’s existing merchant network and will be able to offer GreenSky’s financing solutions to merchants with whom it does business, improving credit access to those merchants’ customers.
Fifth Third has committed to provide phased quarterly financing for up to $500 million in loans originated through GreenSky’s system and has an option to increase that commitment up to $2 billion. The arrangements also include a $50 million investment from Fifth Third in the financial technology company.
Fifth Third Bank has also signed a separate letter of intent to license GreenSky’s market-leading technology platform and integrate it into its online and mobile banking channels and in its approximately 1,200 financial centers, improving speed of response on loan decisions and increasing overall loan originations with improved credit metrics. Near-instant loan decisions will become available to Fifth Third’s existing 2.2 million customer base.
“GreenSky maintains funding commitments with a number of outstanding banks,” said David Zalik, CEO of GreenSky. “This announcement, however, reflects more than solely a funding commitment. This is a multifaceted alliance that will not only benefit all parties, but that also will continue to drive customer-centric innovation in the years ahead.”