8. Fifth Third Bancorp
The shares traded for 0.9 times tangible book value as of Wednesday's market close, according to SNL Financial.Fifth Third reported second-quarter net income available to common shareholders of $328 million, or 35 cents a share, increasing from to $88 million, or 10 cents a share in the first quarter and $130 million, or 16 cents a share, in the second quarter of 2010. The second-quarter numbers were boosted by a $191 million reserve release. Following Fifth Third's second-quarter earnings announcement, Guggenheim Securities analyst Marty Mosby reiterated his "Buy" rating for the shares and $16 price target, saying that "pre-provision profits increased by 2% sequentially," and that "FITB generated an annualized 8% sequential quarter growth in commercial loans." The shares trade for 7.2 times the consensus 2012 EPS estimate of $1.47, among analysts polled by FactSet. Out of 23 analysts covering Fifth Third Bancorp, 14 rate the shares a buy, eight have neutral ratings and one lonely analyst recommends selling the shares.