In today’s session Fifth Third Bancorp (FITB) registered an unusually high (525) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious FITB increase. With 525 contracts traded and 35184 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: FITB170120C00020000 closed last at: $1.36 or 3.8% up. About 2.07M shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 23.01% since March 3, 2016 and is uptrending. It has outperformed by 14.67% the S&P500.
Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on October, 18. They expect $0.43 earnings per share, down 4.44% or $0.02 from last year’s $0.45 per share. FITB’s profit will be $333.84 million for 11.96 P/E if the $0.43 EPS becomes a reality. After $0.40 actual earnings per share reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts 7.50% EPS growth.
Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage
Out of 22 analysts covering Fifth Third (NASDAQ:FITB), 7 rate it a “Buy”, 0 “Sell”, while 15 “Hold”. This means 32% are positive. Fifth Third has been the topic of 39 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Rafferty given on Friday, September 16. The firm has “Neutral” rating by Goldman Sachs given on Friday, October 2. The firm earned “Outperform” rating on Friday, January 22 by RBC Capital Markets. Wood upgraded it to “Outperform” rating and $20.50 target price in Monday, May 16 report. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Hold” rating given on Monday, January 4 by Sandler O’Neill. The company was downgraded on Wednesday, July 6 by Oppenheimer. The stock has “Mkt Perform” rating given by Bernstein on Wednesday, August 26. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Neutral” rating by Susquehanna on Tuesday, June 7. The firm has “Buy” rating by Jefferies given on Friday, May 27. On Thursday, August 20 the stock rating was initiated by Sterne Agee CRT with “Buy”.
According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”
Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.06, from 0.94 in 2016Q1. The ratio turned negative, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Sumitomo Mitsui Trust Hldg has 0.07% invested in the company for 2.22M shares. Fort Washington Investment Advisors Oh last reported 0.23% of its portfolio in the stock. Pine River Cap Mgmt L P holds 0.01% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 50,537 shares. Vanguard Group accumulated 52.42 million shares or 0.06% of the stock. Lockheed Martin Mngmt holds 286,000 shares or 0.5% of its portfolio. Cambridge Inv Advisors Inc last reported 0.01% of its portfolio in the stock. Mizuho Tru Banking Com holds 1.24 million shares or 0.07% of its portfolio. Amica Mutual Insurance owns 41,315 shares or 0.07% of their US portfolio. Eaton Vance Management has 0.08% invested in the company for 1.56M shares. Amp Capital last reported 0.08% of its portfolio in the stock. Ing Groep Nv holds 0.01% or 27,086 shares in its portfolio. Perkins Investment Management Limited Liability Corporation reported 3.75 million shares or 1% of all its holdings. Blackrock Fund Advsrs accumulated 0.05% or 12.68 million shares. Fincl Architects has invested 0.01% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). The Ohio-based James Invest Research Inc has invested 0.21% in Fifth Third Bancorp (NASDAQ:FITB).
Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $15.97 billion. The Firm 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. It has a 10.13 P/E ratio. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
FITB Company Profile
Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm 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. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.
More notable recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Wsj.com which released: “GreenSky Scores $3.6 Billion Valuation From Fifth Third Bancorp” on September 12, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Equity Lifestyle Properties, Fifth Third Bancorp and EPR …” published on September 26, 2016, Reuters.com published: “Fitch Affirms Fifth Third Bancorp’s Inc. IDRs at ‘A/F1’; Outlook Revised t…” on October 04, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Prnewswire.com and their article: “GreenSky Announces Strategic Agreement with Fifth Third Bank” published on September 14, 2016 as well as Streetinsider.com‘s news article titled: “Fifth Third Bancorp (FITB) Adds Two New Board Members” with publication date: September 21, 2016.
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