FITB - Fifth Third Bancorp (NYSE STOCK) - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**BadThad** · #1 09-29-2008, 04:04 PM

Another bank beaten up badly, but from my quick DD, they look like another survivor.

FITB - Fifth Third Bancorp - Google Finance

Current PPS: $9.11

Quote:

September 04, 2008: 11:37 AM EST

NEW YORK (Associated Press) - Robert W. Baird & Co. analyst David George reiterated an "Outperform" rating on Fifth Third Bancorp shares on Thursday, citing the regional bank's relatively stable outlook.

Though credit costs are likely to remain high in the near term, the Cincinnati-based bank has yet to see asset deterioration spread to its core commercial and consumer loan portfolios, George said, following a meeting with the bank's management.

"While realistic about the macro environment and the company's near-term credit challenges, we got the sense from our visit that management was upbeat with respect to the company's ability to weather the current credit cycle while continuing to gain market share throughout its franchise," George wrote in a note to clients. He expects the bank's provision levels to be somewhat lower sequentially.

The bank also said it is on track to raise an additional $1 billion from the sale of non-core assets as planned.

On Wednesday, Standard & Poor's Ratings Service said it may downgrade Fifth Third's investment-grade credit rating due to the ongoing troubles in Florida's housing market, to which Fifth Third has significant exposure.

Shares fell 34 cents, or 2.1 percent, to $16.07 in morning trading. Shares have traded between $8.96 and $37.82 in the past 12 months.

newmny65 · #2 02-09-2009, 02:15 AM

I bought 400 shares last week for $717.00, should I ride them out or sell?

**Aufan 1983** · #3 02-09-2009, 06:35 AM

Quote:

Originally Posted by newmny65

I bought 400 shares last week for $717.00, should I ride them out or sell?

Thats your call but it never hurts to take some profit to reduce your risk. You might consider selling half and riding half. This way you are still in for the ride but the risk is all but gone.

newmny65 · #4 02-09-2009, 07:05 AM

Advice well taken, I've already made a good return, sell 75% and move on. I will sell other 2 banks as well. THANKS!!!

newmny65 · #5 02-10-2009, 05:11 PM

Great advice, sold 300 for 3.10 yesterday morn. I still have the FALLIN in love habit with my stocks. I'm learning to end the friendship with a gain though. THANKS!!!

**BadThad** · #6 02-10-2009, 11:42 PM

Quote:

Originally Posted by newmny65

Great advice, sold 300 for 3.10 yesterday morn. I still have the FALLIN in love habit with my stocks. I'm learning to end the friendship with a gain though. THANKS!!!

Good move, congrats!

newmny65 · #7 02-10-2009, 11:49 PM

THANKS, except I bought a BUNCH more today at $ 2.03, I just cant see 5/3 held down that long. JMO

newmny65 · #8 02-19-2009, 09:59 PM

And bought another BUNCH today at $1.20. 75% of my acct is FITB. RUN FORREST-RUN!!!!

**BadThad** · #9 02-20-2009, 10:47 AM

Quote:

Originally Posted by newmny65

And bought another BUNCH today at $1.20. 75% of my acct is FITB. RUN FORREST-RUN!!!!

Bank stocks are very, very hard to resist at these levels.....I'd say that was a good buy.

newmny65 · #10 02-20-2009, 06:59 PM

MAXED OUT, could not afford more at 1.01 BOOO- HOOO!! My acct is way down but I feel FITB will rebound in time. If not I will need a loan from my friendly banker.