Short Interest in Fifth Third Bancorp (NASDAQ:FITB) Expands By 7.2%

Fifth Third Bancorp (NASDAQ:FITB) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 20,170,000 shares, a growth of 7.2% from the December 15th total of 18,810,000 shares. Based on an average daily volume of 4,380,000 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.0% of the company’s shares are sold short.

Fifth Third Bancorp Stock Up 2.5 %

Fifth Third Bancorp stock traded up $1.07 during midday trading on Monday, reaching $44.34. The stock had a trading volume of 9,304,861 shares, compared to its average volume of 3,879,152. The company has a fifty day moving average price of $45.02 and a two-hundred day moving average price of $42.90. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $29.73 billion, a P/E ratio of 14.73, a PEG ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FITB shares. Evercore ISI increased their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Citigroup boosted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $45.92.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its position in Fifth Third Bancorp by 8.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 97,636 shares of the financial services provider’s stock valued at $3,563,000 after acquiring an additional 7,906 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Fifth Third Bancorp by 25.8% in the second quarter. Benjamin Edwards Inc. now owns 4,675 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 958 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Fifth Third Bancorp by 1.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 140,045 shares of the financial services provider’s stock valued at $5,107,000 after buying an additional 1,700 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Fifth Third Bancorp by 4.6% during the second quarter. Pacer Advisors Inc. now owns 48,878 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 2,157 shares in the last quarter. Finally, Sei Investments Co. raised its position in Fifth Third Bancorp by 1.2% in the 2nd quarter. Sei Investments Co. now owns 693,800 shares of the financial services provider’s stock valued at $25,317,000 after buying an additional 8,410 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Company Profile

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.