Jefferies Maintains a 'Buy' on Fifth Third Bancorp (FITB); Approved Credit Actions

Jefferies maintains a 'Buy' on Fifth Third Bancorp (NASDAQ: FITB) price target of $16.50 (from $16.00).

Analyst, Ken Usdin, said, "Approved capital actions (dividend to $0.10/quarter from $0.08, up to $600mm of share repurchases through 1Q13) were better-than-expected, coming in at just under $900mm vs. our expectation of $500mm+. Given the larger-than-expected buyback, estimates move up slightly (2012 up $0.02 to $1.62, 2013 up $0.05 to $1.50)."

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.

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