Fifth Third Bancorp Target of Unusually High Options Trading (NASDAQ:FITB)

Fifth Third Bancorp (NASDAQ:FITB) saw some unusual options trading activity on Friday. Traders acquired 5,622 put options on the stock. This represents an increase of approximately 22% compared to the typical volume of 4,622 put options.

Fifth Third Bancorp Trading Up 5.9 %

Shares of Fifth Third Bancorp stock opened at $36.25 on Friday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The firm has a market cap of $24.69 billion, a PE ratio of 11.22, a PEG ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day simple moving average of $35.21 and a two-hundred day simple moving average of $31.78.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same period last year, the business posted $0.78 earnings per share. Analysts expect that Fifth Third Bancorp will post 3.19 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.86%. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. 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 report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Barclays raised their price objective on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Finally, UBS Group restated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.63.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now directly owns 139,422 shares in the company, valued at $5,072,172.36. 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

Hedge funds have recently made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp in the 1st quarter worth approximately $29,000. GoalVest Advisory LLC increased its stake in shares of Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after buying an additional 560 shares during the period. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $36,000. Clear Street Markets LLC increased its stake in shares of Fifth Third Bancorp by 93.4% in the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock worth $36,000 after buying an additional 647 shares during the period. Finally, Financial Management Professionals Inc. increased its stake in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Company Profile

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.