Fifth Third's shares closed at $13.77 Wednesday, returning 14% year-to-date, following an 11% decline during 2011.
The shares trade for 1.2 times their reported June 30 tangible book value of $11.89, and for nine times the consensus 2013 earnings estimate of $1.54 a share. The consensus 2012 EPS estimate is also $1.58.
Based on a quarterly payout of eight cents, the shares have a dividend yield of 2.32%.Konrad rates Fifth Third "Outperform," with a price target of $16, saying "we still believe the stock offers a compelling story at these levels as it offers strong profitability metrics with a
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