5 Cheap Bank Stocks To Buy

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In this article, we will be taking a look at 5 cheap bank stocks to buy. To read our detailed analysis of the banking sector, you can go directly to see the 12 Cheap Bank Stocks To Buy.

5. Fifth Third Bancorp (NASDAQ:FITB)

Number of Hedge Fund Holders: 35

P/E Ratio as of January 19: 10.29

Fifth Third Bancorp (NASDAQ:FITB) provides smart financial services to individuals, businesses, and communities. The company is based in Cincinnati, Ohio.

An Overweight rating was reiterated on Fifth Third Bancorp (NASDAQ:FITB) shares on January 3 by analyst Jason Goldberg at Barclays.

Fifth Third Bancorp (NASDAQ:FITB) is considered to be trading at a discount in comparison to its peers in the banking sector, a factor that is increasingly attractive considering the high likelihood of the company seeing an earnings upside in the coming quarters. Analysts at Bank of America see the company’s earnings growing in 2023, while its EPS for 2024 is expected to normalize to a moderate growth rate level. BofA Global Research statistics show that Fifth Third Bancorp (NASDAQ:FITB) is expected to trade at a P/E of 8x in 2023 and 7.6x in 2024.

Our hedge fund data shows 35 funds long Fifth Third Bancorp (NASDAQ:FITB) at the end of the third quarter of 2022.

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