Tangible Book Value per Share: Fifth Third Bancorp Reported Q3 Results. Fifth Third Bancorp (NASDAQ:FITB) reported Q3 EPS of .35, ahead of consensus estimates of .33 per share. Net charge-offs were 2 million. Total nonperforming assets fell 5% sequentially to .1 billion and nonperforming assets excluding held-for-sale fell 7% to .9 billion. Kevin T. Kabat, president and CEO of Fifth Third Bancorp said, “Fifth Third’s third quarter results showed continued strength as we generated a profit of 3 million, up 14 percent from last quarter and more than doubling from last year. Return on assets was 1.34 percent and we generated a return on average tangible common equity of nearly 15 percent. Tangible book value per share grew a strong 5 percent sequentially.” Fifth Third Bancorp has potential upside of 32.8% based on a current price of .66 and an average consensus analyst price target of .16.
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