Stock Traders Buy High Volume of Fifth Third Bancorp Put Options (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) was the target of unusually large options trading on Tuesday. Investors bought 2,896 put options on the stock. This is an increase of 33% compared to the typical daily volume of 2,176 put options.

Analyst Upgrades and Downgrades

Several brokerages have commented on FITB. Evercore ISI dropped their target price on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group upped their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Robert W. Baird reiterated a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley restated 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $38.15.

View Our Latest Stock Analysis on Fifth Third Bancorp

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’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 transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Financial Synergies Wealth Advisors Inc. bought a new position in Fifth Third Bancorp in the 1st quarter valued at about $29,000. GoalVest Advisory LLC raised its holdings in Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the period. Denali Advisors LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $36,000. Financial Management Professionals Inc. increased its holdings in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, Centerpoint Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 125.0% during the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the period. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Up 1.8 %

Shares of NASDAQ:FITB opened at $36.85 on Thursday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The company has a market capitalization of $25.21 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The company has a 50-day simple moving average of $36.86 and a 200 day simple moving average of $35.69. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $0.78 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.29 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Fifth Third Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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