What Could Be Propelling Fifth Third Bancorp to Decrease?

 What Could Be Propelling Fifth Third Bancorp to Decrease?

In today’s session Fifth Third Bancorp (FITB) recorded an unusually high (1,011) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious FITB decrease. With 1,011 contracts traded and 20774 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: FITB161118P00022000 closed last at: $0.61 or 7.6% down. About 2.21M shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 29.40% since March 29, 2016 and is uptrending. It has outperformed by 25.93% 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 $21.40 average target is -2.19% below today’s ($21.88) stock price. Fifth Third has been the topic of 43 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by Stephens given on Tuesday, March 8. As per Monday, January 4, the company rating was downgraded by Sandler O’Neill. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Mkt Perform” rating by Keefe Bruyette & Woods on Tuesday, October 4. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Buy” rating by Sterne Agee CRT on Thursday, August 20. As per Wednesday, April 6, the company rating was downgraded by Sterne Agee CRT. Susquehanna downgraded the shares of FITB in a report on Tuesday, June 7 to “Neutral” rating. Oppenheimer maintained the shares of FITB in a report on Wednesday, October 21 with “Outperform” rating. On Monday, May 16 the stock rating was upgraded by Wood to “Outperform”. Oppenheimer downgraded the stock to “Perform” rating in Wednesday, July 6 report. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Outperform” rating by Oppenheimer on Friday, January 22.

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 is 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.
Principal Inc holds 0.05% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 1.96 million shares. Centurylink Investment Mgmt has invested 0.04% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Moreover, Parametric Portfolio Ltd has 0.08% invested in Fifth Third Bancorp (NASDAQ:FITB) for 2.81 million shares. The Georgia-based Herndon Cap Mgmt Ltd Liability Company has invested 0% in Fifth Third Bancorp (NASDAQ:FITB). Cornerstone Investment Lc has 41,150 shares for 0.03% of their US portfolio. Hugh Johnson Advsr Limited Liability accumulated 0.11% or 15,895 shares. Victory accumulated 0.02% or 317,505 shares. M&T State Bank holds 0.01% or 62,398 shares in its portfolio. Daiwa Securities Grp holds 0% or 27,500 shares in its portfolio. State Street accumulated 38.54 million shares or 0.07% of the stock. Cubist Systematic Strategies Limited Liability Corp last reported 34,506 shares in the company. Advsr Asset Management Inc has 92,643 shares for 0.03% of their US portfolio. Srb Corporation holds 0.02% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 7,824 shares. Credit Agricole S A holds 1.45 million shares or 0.1% of its portfolio. Meiji Yasuda Life Ins reported 102,530 shares or 0.29% of all its holdings.

Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $16.37 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 9.81 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: Bizjournals.com which released: “Meet Fifth Third’s new top banker coming to town” on October 27, 2016, also Businesswire.com with their article: “David A. Call Named Florida Regional President at Fifth Third Bank” published on October 26, 2016, Bizjournals.com published: “EXCLUSIVE: Fifth Third gets another chance at key Federal Reserve review” on October 27, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Streetinsider.com and their article: “Fifth Third Bancorp (FITB) Tops Q3 EPS by 3c” published on October 20, 2016 as well as Businesswire.com‘s news article titled: “Fifth Third Bank To Offer Real-Time Person-to-Person Payments” with publication date: October 24, 2016.

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