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

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) saw some unusual options trading on Tuesday. Stock investors acquired 2,896 put options on the stock. This represents an increase of 33% compared to the typical volume of 2,176 put options.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. Evercore ISI decreased their price target 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Finally, UBS Group reaffirmed a “neutral” rating and set a $39.00 price target (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, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.15.

View Our Latest Report on Fifth Third Bancorp

Fifth Third Bancorp Price Performance

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

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the business earned $0.78 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.29 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

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

Insider Buying and Selling at Fifth Third Bancorp

In other 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 completion of the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $540,497.66. Following 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 currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SVB Wealth LLC increased its stake in shares of Fifth Third Bancorp by 3.8% during the first quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 283 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 300 shares during the period. Lcnb Corp increased its stake in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 319 shares during the period. MCF Advisors LLC increased its stake in shares of Fifth Third Bancorp by 0.8% during the first quarter. MCF Advisors LLC now owns 41,594 shares of the financial services provider’s stock valued at $1,558,000 after acquiring an additional 328 shares during the period. Finally, Independence Bank of Kentucky increased its stake in shares of Fifth Third Bancorp by 21.1% during the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.

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