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

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 10,026 call options on the company. This represents an increase of approximately 294% compared to the typical volume of 2,544 call options.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Fifth Third Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $28,000. Quarry LP acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $29,000. HWG Holdings LP acquired a new stake in shares of Fifth Third Bancorp during the 1st quarter valued at about $27,000. Finally, BankPlus Trust Department bought a new stake in Fifth Third Bancorp in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 0.7 %

NASDAQ:FITB traded up $0.26 during mid-day trading on Wednesday, reaching $36.89. The stock had a trading volume of 394,226 shares, compared to its average volume of 4,449,137. The stock has a market cap of $24.64 billion, a P/E ratio of 11.73, a PEG ratio of 1.42 and a beta of 0.89. The business's 50 day moving average is $37.29 and its 200 day moving average is $42.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.01%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 46.98%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Piper Sandler reiterated an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.24.

About Fifth Third Bancorp

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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