Usdin said that the company's fourth-quarter guidance "calls for: 1) $890mm of net interest income (worse than expected), 2) NIM compression, 3) $710mm in fees (better than expected), 4) $970mm-$975mm in expenses (worse than expected), and 5) $150mm in charge-offs (better than expected)." In sum, the guidance calls for fourth-quarter pre-provision earnings of about $617 million, which is ahead of Usdin's estimate of $594 million.

Fifth Third Bancorp's shares returned 21% year-to-date, through Wednesday's close at $15.13.

The shares trade for 1.3 times their reported Sept. 30 tangible book value of $12.12, and for 10.5 times the consensus 2013 EPS estimate of $1.59. Based on a quarterly payout of f10 cents, the shares have a dividend yield of 2.64%.

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


-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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