Fifth Third Bancorp Target of Unusually Large Options Trading (FITB)

Fifth Third Bancorp (NASDAQ:FITB) was the target of unusually large options trading on Wednesday. Investors purchased 17,196 put options on the stock. This represents an increase of 3,574% compared to the average daily volume of 468 put options.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. boosted its stake in Fifth Third Bancorp by 1.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after purchasing an additional 33,660 shares during the period. Principal Financial Group Inc. boosted its stake in Fifth Third Bancorp by 4.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after purchasing an additional 68,859 shares during the period. Capital Fund Management S.A. boosted its stake in Fifth Third Bancorp by 69.8% in the 2nd quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after purchasing an additional 132,047 shares during the period. Amalgamated Bank boosted its stake in Fifth Third Bancorp by 58.0% in the 2nd quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock worth $2,196,000 after purchasing an additional 31,048 shares during the period. Finally, Alps Advisors Inc. boosted its stake in Fifth Third Bancorp by 27.6% in the 2nd quarter. Alps Advisors Inc. now owns 13,773 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 2,983 shares during the period. 83.97% of the stock is owned by institutional investors.

Fifth Third Bancorp (NASDAQ:FITB) opened at $30.37 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83. The firm has a market cap of $21,290.00, a P/E ratio of 16.99, a P/E/G ratio of 2.54 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same quarter in the previous year, the company posted $0.65 EPS. analysts expect that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Oppenheimer reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Bank of America lifted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, September 25th. Finally, Nomura lifted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company. Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $28.23.

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About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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