Deutsche Bank Upgrades Fifth Third Bancorp (FITB) to Buy; A Laggard Ready To Make A Move
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Price: $53.42 --0%
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank upgraded Fifth Third Bancorp (NASDAQ: FITB) from Hold to Buy.
Deutsche analyst said, "FITB shares have lagged—rising just 10% ytd vs. 20% for other large Regionals. This reflects sluggish net interest income, disappointment over CCAR results and concern that EPS will be flattish the next few quarters (ex 1Q’s gains). However, it now trades at just 9x both our 2012E and 2013E vs. 11x and 10x respectively for peers—implying these concerns should be in the stock. In addition, FITB should be one of the biggest beneficiaries of stronger for longer mortgage (at 13% of revenues vs. 15% at Wells Fargo (NYSE: WFC), for ex) and with much less risk from putbacks/litigation than others."
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 $13.95 yesterday.
Deutsche analyst said, "FITB shares have lagged—rising just 10% ytd vs. 20% for other large Regionals. This reflects sluggish net interest income, disappointment over CCAR results and concern that EPS will be flattish the next few quarters (ex 1Q’s gains). However, it now trades at just 9x both our 2012E and 2013E vs. 11x and 10x respectively for peers—implying these concerns should be in the stock. In addition, FITB should be one of the biggest beneficiaries of stronger for longer mortgage (at 13% of revenues vs. 15% at Wells Fargo (NYSE: WFC), for ex) and with much less risk from putbacks/litigation than others."
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 $13.95 yesterday.
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