Fifth Third Bancorp Draws Bearish Options Activity Today

 Fifth Third Bancorp Draws Bearish Options Activity Today

In today’s session Fifth Third Bancorp (FITB) recorded an unusually high (3,760) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious FITB decrease. With 3,760 contracts traded and 11044 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: FITB161021P00020000 closed last at: $0.46 or 9.8% down. About 1.03M shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 13.90% since March 15, 2016 and is uptrending. It has outperformed by 8.42% the S&P500.

Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage

Out of 24 analysts covering Fifth Third (NASDAQ:FITB), 6 rate it a “Buy”, 1 “Sell”, while 17 “Hold”. This means 25% are positive. $25 is the highest target while $16 is the lowest. The $21.35 average target is 8.43% above today’s ($19.69) stock price. Fifth Third has been the topic of 42 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Oppenheimer maintained Fifth Third Bancorp (NASDAQ:FITB) rating on Friday, January 22. Oppenheimer has “Outperform” rating and $20 price target. As per Thursday, August 20, the company rating was initiated by Sterne Agee CRT. The rating was downgraded by Nomura on Monday, October 10 to “Reduce”. The rating was downgraded by Sterne Agee CRT on Wednesday, April 6 to “Neutral”. The stock has “Neutral” rating given by Citigroup on Wednesday, July 22. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Equal-Weight” rating given on Wednesday, October 5 by Stephens. The stock has “Overweight” rating given by Stephens on Tuesday, March 8. Wood upgraded the stock to “Outperform” rating in Monday, May 16 report. Evercore downgraded the stock to “Hold” rating in Friday, April 1 report. RBC Capital Markets maintained it with “Outperform” rating and $20 target price in Friday, January 22 report.

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 2016 Q2. Its down 0.06, from 0.94 in 2016Q1. The ratio dived, 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.
Bowling Portfolio Ltd Liability Corp has invested 0.3% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Redwood Investments has 3,809 shares for 0.01% of their US portfolio. First Citizens Bank & Trust holds 0.38% or 241,658 shares in its portfolio. The Australia-based Westpac Banking has invested 0% in Fifth Third Bancorp (NASDAQ:FITB). Dekabank Deutsche Girozentrale last reported 0.01% of its portfolio in the stock. The New York-based New York State Teachers Retirement Systems has invested 0.07% in Fifth Third Bancorp (NASDAQ:FITB). Fifth Third Financial Bank holds 2.33M shares or 0.35% of its portfolio. Tiemann Invest Advsr Limited Liability Corporation has 0.3% invested in the company for 18,342 shares. Shoker Inv Counsel has 14,398 shares for 0.22% of their US portfolio. Martin Currie last reported 200,400 shares in the company. Raymond James Fincl Svcs Advsrs accumulated 56,351 shares or 0.01% of the stock. Washington Trust Financial Bank last reported 21,608 shares in the company. Ferguson Wellman Cap Mngmt accumulated 17,180 shares or 0.01% of the stock. Meeder Asset Mgmt has 0.13% invested in the company for 75,920 shares. Moreover, Global X Mgmt Co Limited Liability Corporation has 0.01% invested in Fifth Third Bancorp (NASDAQ:FITB) for 6,234 shares.

Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $14.92 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 9.7 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: Zacks.com which released: “Why Fifth Third Bancorp (FITB) Stock Might be a Great Pick” on October 17, 2016, also Prnewswire.com with their article: “Fifth Third Bank: Election Offers Widely Varying Tax-Reform Visions” published on October 13, 2016, Forbes.com published: “Ex-Dividend Reminder: Equity Lifestyle Properties, Fifth Third Bancorp and EPR …” on September 26, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Businesswire.com and their article: “Reuben Rashty Named Managing Director of Fifth Third Private Bank in Michigan” published on October 04, 2016 as well as Businesswire.com‘s news article titled: “Fifth Third Bank Launches New Consumer Credit Cards” with publication date: October 11, 2016.

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