SG Americas Securities LLC Sells 35,619 Shares of Fifth Third Bancorp $FITB

SG Americas Securities LLC decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 83.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,073 shares of the financial services provider’s stock after selling 35,619 shares during the quarter. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $315,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Fifth Third Bancorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock worth $3,448,743,000 after buying an additional 1,301,624 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fifth Third Bancorp by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,306,918 shares of the financial services provider’s stock valued at $958,614,000 after acquiring an additional 398,517 shares during the period. Invesco Ltd. increased its stake in shares of Fifth Third Bancorp by 16.6% during the 2nd quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock worth $850,473,000 after purchasing an additional 2,941,333 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fifth Third Bancorp by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 18,008,755 shares of the financial services provider’s stock valued at $737,728,000 after purchasing an additional 619,956 shares during the period. Finally, Norges Bank acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at about $357,440,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FITB shares. TD Cowen restated a “buy” rating on shares of Fifth Third Bancorp in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Wolfe Research raised their price target on Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Morgan Stanley set a $60.00 price objective on shares of Fifth Third Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Janney Montgomery Scott upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a report on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $56.21.

Fifth Third Bancorp Stock Down 0.5%

FITB stock opened at $50.49 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $53.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $33.38 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.02 and a beta of 0.97. The business’s fifty day moving average price is $47.02 and its two-hundred day moving average price is $44.66.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The business had revenue of $3.82 billion for the quarter. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 45.20%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.