Rochester,NY 7/11/2009 1:37:21 AM
Afternoon Stock Report - FITB - Is It Safe? SunTrust Sees Clear Horizon - Sourced WhisperFromWallStreet.com
Fifth Third Bancorp
Afternoon Stock Report - FITB - Is It Safe? SunTrust Sees Clear Horizon - Sourced WhisperFromWallStreet.com
Fifth Third Bancorp, FITB
Is It Safe?" is a daily feature by TheStreet.com Ratings that looks at a company's risk-and-reward potential. Find out if your stocks are safe each morning at 4.
SunTrust Banks(STI Quote), one of 10 lenders told to raise more capital in May after the U.S. completed stress tests, appears stronger than many other regional holding companies, including Fifth Third Bancorp(FITB Quote) and Regions Financial(RF Quote).
SunTrust looks like a good long-term bet. But making a quick killing on the shares will be more difficult.
Investors were taken for a wild ride in the first week of June, when SunTrust shares rose 29% on an analyst's upgrade and a short squeeze. Others piled in amid talk of "green shoots" in the economy.
Confidence in the economy was replaced by doom and gloom last week, as a dismal unemployment report pushed the S&P 500 Index down 2.5%. Banks fared worse, with the S&P 500 Financials Index dropping 4.2%. SunTrust rose 1.5%.
Last Trade: 6.55
Day's Range: 6.46 - 6.75
52wk Range: 1.01 - 21.00
Volume: 14,052,960
ABOUT - Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services holding company. The company's Commercial Banking segment offers banking, cash management, and financial services; traditional lending and depository products and services; other services, including foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. Its Branch Banking segment provides a range of deposit and loan, and lease products to individuals and corporations. Its products include checking and savings accounts, home equity loans and lines of credit, and credit cards and loans for automobile and personal financing needs.
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