On November 7, 2023, after market hours, Fifth Third Bancorp filed its quarterly report for the third quarter of 2023 with the U.S. Securities and Exchange Commission. In this report, Fifth Third Bancorp disclosed that a company subsidiary was cooperating with certain investigations. Specifically, the company disclosed that “Fifth Third Bank, National Association is currently cooperating with investigations related to several civil investigative demands by a number of state attorneys general regarding the lending practices and installer relationships of Dividend Solar Finance, LLC, which the Bank acquired in May 2022. Among these is a civil investigative demand by a coalition of 17 state attorneys general relating to the Chapter 7 bankruptcy filing of one such installer, Power Home Solar, LLC, dba Pink Energy.”

On this news, Fifth Third Bancorp’s stock fell by $0.67 per share, or 2.56%, to close at $25.49 per share on November 8, 2023. The next day, Fifth Third Bancorp stock fell by an additional $0.67 per share, or 2.62%, to close at $24.82 per share.