Fifth Third Bancorp
Shares of Fifth Third Bancorp ( FITB) of Cincinnati closed at $13.99 Friday, returning 11% year-to-date, following an 11% decline during 2011. Based on an eight-cent quarterly payout, the shares have a dividend yield of 2.29%.

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The shares trade for 1.3 times tangible book value and for nine times the consensus 2013 EPS estimate of $1.51. The consensus 2012 EPS estimate is $1.48.

Ken Usdin's price target for Fifth Third is $16.00.

Harmon said that "with the bulk of its footprint in the Midwest, FITB has benefitted from the resurgence of the manufacturing sector," and that "while unemployment is still higher-than-average, future improvement looks promising as average hours are showing signs of picking up after a deceleration in the back half of last year."

Looking ahead, Harmon said that Fifth Third is "particularly vulnerable" to loan pricing competition, "as it has less funding levers given that its last big slugs of deposit repricing were last year."

Interested in more on Fifth Third Bancorp? See TheStreet Ratings' report card for this stock.

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