Fifth Third Bancorp Sees Unusually High Options Volume (NASDAQ:FITB)
by Sarita Garza · The Markets DailyFifth Third Bancorp (NASDAQ:FITB – Get Free Report) was the target of some unusual options trading on Tuesday. Stock traders purchased 59,947 call options on the stock. This is an increase of 1,521% compared to the average volume of 3,699 call options.
Fifth Third Bancorp Stock Down 0.6%
Shares of FITB stock traded down $0.29 during trading hours on Tuesday, reaching $47.53. 4,860,412 shares of the company’s stock were exchanged, compared to its average volume of 5,637,085. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $48.71. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $31.42 billion, a PE ratio of 14.19, a PEG ratio of 0.98 and a beta of 0.99. The stock’s fifty day moving average price is $44.27 and its two-hundred day moving average price is $43.54.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.
Fifth Third Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 47.76%.
Insider Activity at Fifth Third Bancorp
In other news, Director Evan Bayh purchased 3,000 shares of the stock in a transaction dated Monday, October 20th. The shares were purchased at an average cost of $41.22 per share, with a total value of $123,660.00. Following the acquisition, the director directly owned 84,942 shares of the company’s stock, valued at $3,501,309.24. This represents a 3.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at $6,265,763.50. The trade was a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.53% of the company’s stock.
Institutional Investors Weigh In On Fifth Third Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the second quarter valued at about $26,000. United Community Bank increased its position in shares of Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 581 shares during the last quarter. Activest Wealth Management raised its stake in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares during the period. Finally, Banque Transatlantique SA acquired a new position in shares of Fifth Third Bancorp in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 83.79% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Fifth Third Bancorp in a research report on Wednesday, October 8th. Morgan Stanley set a $60.00 price objective on Fifth Third Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. TD Cowen lifted their target price on Fifth Third Bancorp from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Citigroup upped their target price on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Cowen restated a “buy” rating on shares of Fifth Third Bancorp in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.15.
View Our Latest Analysis on FITB
About Fifth Third Bancorp
Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.
On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.