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7 Defensive Bank Stock Plays From FBR

Fifth Third Bancorp
Shares of Fifth Third Bancorp (FITB - Get Report) of Cincinnati closed at $12.54 Friday, down 1% year-to-date, following an 11% decline during 2011.

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Based on a quarterly payout of eight cents, the shares have a dividend yield of 2.55%.

The shares trade for 1.2 times tangible book value, and for eight times the consensus 2013 earnings estimate of $1.51. The consensus 2013 EPS estimate is $1.49.

On Monday, Miller cut his price target for Fifth Third's shares by a dollar to $17, "to reflect slightly lower earnings expectations as a result of falling asset yields,," while saying the price target was equal to 11.5 times his 2013 EPS estimate of $1.48, "which is still a premium to large-cap peers."

The analyst cut his "FY12E GAAP and operating EPS to $1.53 and $1.40 from $1.56 and $1.42, respectively, largely based on our expectation for a lower net interest margin whose earnings impact is partially offset by higher mortgage banking revenues."

Interested in more on Fifth Third Bancorp? See TheStreet Ratings' report card for this stock.
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FITB $18.97 0.00%
FCF $9.24 0.00%
PHH $15.74 0.00%
PNC $89.82 0.00%
SBNY $140.86 0.00%


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