Fifth Third Bancorp Sees Unusually High Options Volume (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 2,896 put options on the stock. This represents an increase of approximately 33% compared to the average volume of 2,176 put options.

Fifth Third Bancorp Trading Down 1.2 %

Shares of FITB traded down $0.45 during trading hours on Tuesday, hitting $35.78. The company had a trading volume of 3,857,645 shares, compared to its average volume of 4,822,699. The firm has a market cap of $24.47 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.48 and a beta of 1.24. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The stock’s 50 day moving average price is $36.87 and its 200 day moving average price is $35.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the prior year, the business posted $0.78 EPS. On average, research analysts predict that Fifth Third Bancorp will post 3.29 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.91%. Fifth Third Bancorp’s payout ratio is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fifth Third Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FITB. Alps Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 21.7% during the third quarter. Alps Advisors Inc. now owns 12,726 shares of the financial services provider’s stock valued at $322,000 after buying an additional 2,268 shares during the period. Sei Investments Co. lifted its position in shares of Fifth Third Bancorp by 9.2% in the 3rd quarter. Sei Investments Co. now owns 714,243 shares of the financial services provider’s stock worth $18,092,000 after purchasing an additional 60,319 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Fifth Third Bancorp by 5.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 157,639 shares of the financial services provider’s stock valued at $3,993,000 after purchasing an additional 7,886 shares in the last quarter. Deutsche Bank AG increased its position in shares of Fifth Third Bancorp by 16.4% during the third quarter. Deutsche Bank AG now owns 1,479,951 shares of the financial services provider’s stock valued at $37,487,000 after buying an additional 208,716 shares during the period. Finally, Modera Wealth Management LLC bought a new position in Fifth Third Bancorp in the third quarter worth about $215,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wolfe Research raised Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Friday, May 31st. Stephens reaffirmed an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.15.

Get Our Latest Analysis on FITB

About Fifth Third Bancorp

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Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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