Nomura Securities Maintains a 'Buy' on Fifth Third Bancorp (FITB); Management Meetings Post 4Q

Nomura Securities maintains a 'Buy' on Fifth Third Bancorp (NASDAQ: FITB) price target of $14.50.

Analyst, Brian Foran, said, "We recently met with Fifth Third management. Three positives: mortgage is coming in better than expected, there is some optimism that Florida real estate has bottomed, and FITB is well positioned on capital returns. We continue to rate the stock Buy, as it is among the least expensive banks on 2012E and 2013E P/E (10x and 9x, respectively vs peers at 13x and 10x). Yes, there is NIM risk here as asset yields roll over and the cost of funds reductions run out, but this is an industry issue not just FITB."

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 $13.80 yesterday.

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