Compass Point Reiterates a 'Buy' on Fifth Third Bancorp (FITB); Confirming Capital Deployment Story

Article Stock Quotes (1) Comments (0)

Compass Point reiterates a 'Buy' on Fifth Third Bancorp (NASDAQ: FITB) price target of $17.00.

Analyst, Kevin Barker, said, "Reiterating rating and price target following Fifth Third's announcement that the Federal Reserve had "no objection" to their re-submitted capital plan as part of the 2012 CCAR process. The revised capital plan included $600M of share repurchases through 1Q13, roughly $300M above our modeled estimates and a $0.10 dividend, inline with our estimate. The company also announced they have entered into an agreement to repurchase $350M of stock in the near future. Due to these developments we are adjusting our FY12 EPS from $1.58 to $1.59 and raising our FY13 EPS estimate from $1.50 to $1.55."

For an analyst ratings summary and ratings history on Fifth Third Bancorp click here. For more ratings news on Fifth Third Bancorp click here.

Shares of Fifth Third Bancorp closed at $14.39 yesterday, with a 52 week range of $9.13-$14.73.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
• Topeka Capital Starts CEVA Inc. (CEVA) at Buy
• Workday (WDAY) Success Continues but Valuation Lofty, Goldman Maintains Neutral

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Dividend

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?