A Reversal for Fifth Third Bancorp Is Not Near. Professional Options Traders Are Bullish

 A Reversal for Fifth Third Bancorp Is Not Near. Professional Options Traders Are Bullish

In today’s session Fifth Third Bancorp (FITB) registered an unusually high (3,177) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2018 call, expecting serious FITB increase. With 3,177 contracts traded and 1364 open interest for the Jan, 18 contract, it seems this is a quite bullish bet. The option with symbol: FITB180119C00027000 closed last at: $2.73 or 9.2% up. About 4.91 million shares traded hands. Fifth Third Bancorp (NASDAQ:FITB) has risen 41.07% since April 25, 2016 and is uptrending. It has outperformed by 35.05% the S&P500.

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on January, 19. They expect $0.43 earnings per share, up 4.88% or $0.02 from last year’s $0.41 per share. FITB’s profit will be $322.92M for 14.92 P/E if the $0.43 EPS becomes a reality. After $0.65 actual earnings per share reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.

Fifth Third Bancorp (NASDAQ:FITB) Ratings Coverage

Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. JP Morgan maintained the shares of FITB in a report on Thursday, April 7 with “Neutral” rating. The firm has “Mkt Perform” rating by Keefe Bruyette & Woods given on Tuesday, October 4. The rating was maintained by Oppenheimer on Friday, January 22 with “Outperform”. The firm has “Neutral” rating given on Friday, November 18 by Compass Point. The firm has “Underperform” rating given on Wednesday, November 16 by Robert W. Baird. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Buy” rating given on Friday, September 16 by Rafferty. Nomura downgraded the stock to “Reduce” rating in Monday, October 10 report. The firm earned “Neutral” rating on Tuesday, November 24 by Piper Jaffray. The company was maintained on Wednesday, October 21 by Oppenheimer. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Outperform” rating given on Wednesday, October 21 by RBC Capital Markets.

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 0.69 in Q2 2016. Its down 0.19, from 0.88 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.
Moreover, Suntrust Banks has 0% invested in Fifth Third Bancorp (NASDAQ:FITB) for 37,487 shares. Macquarie Group holds 0.01% or 419,950 shares in its portfolio. Commonwealth Savings Bank Of Australia accumulated 146,809 shares or 0.03% of the stock. Fil Limited reported 7.36 million shares or 0.41% of all its holdings. Diam last reported 0.03% of its portfolio in the stock. The New York-based Mutual Of America Management Lc has invested 0.06% in Fifth Third Bancorp (NASDAQ:FITB). Credit Agricole S A holds 1.45M shares or 0.1% of its portfolio. First Citizens Bank & Trust And Tru has 241,658 shares for 0.38% of their US portfolio. Tru Of Vermont owns 1,025 shares or 0% of their US portfolio. Aperio Grp Limited Liability last reported 0.05% of its portfolio in the stock. Point72 Asset Mngmt Ltd Partnership last reported 287,408 shares in the company. Budros Ruhlin And Roe holds 10,435 shares or 0.06% of its portfolio. The Illinois-based Calamos Advsr Ltd has invested 0.01% in Fifth Third Bancorp (NASDAQ:FITB). Quantbot Tech Ltd Partnership holds 0.06% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 33,606 shares. Moreover, Strs Ohio has 0.01% invested in Fifth Third Bancorp (NASDAQ:FITB) for 74,191 shares.

Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 8 sales for $4.20 million net activity. Spence Timothy sold $578,750 worth of stock or 25,000 shares. The insider CARMICHAEL GREG D sold 36,821 shares worth $924,575. Shares for $430,547 were sold by Forrest Frank R.. $496,341 worth of Fifth Third Bancorp (NASDAQ:FITB) was sold by Borton Chad M on Thursday, November 10. 3,220 shares were sold by Tanner Teresa J., worth $82,701. Leonard James C. sold $510,355 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. McHugh Philip sold $764,673 worth of stock.

Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $19.27 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 11.43 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 important recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Businesswire.com which released: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated …” on November 22, 2016, also Nasdaq.com published article titled: “Fifth Third Bancorp Reaches Analyst Target Price”, Nasdaq.com published: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” on November 22, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) was released by: Nasdaq.com and their article: “The Zacks Analyst Blog Highlights: Wells Fargo, Bank of America, Fifth Third …” with publication date: November 28, 2016.

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