This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Bank Stock Picks for Bottom-Fishing Investors

8. Fifth Third Bancorp

Shares of Fifth Third Bancorp (FITB - Get Report) of Cincinnati closed at $9.42 Wednesday, for a one-week decline of 22% and a year-to-date decline of 35%.

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.
4 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BPOP $28.50 -1.90%
BAC $16.69 -1.48%
CATY $31.66 -0.85%
C $54.52 -1.00%
FITB $20.72 -1.30%

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs