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

SG Americas Securities LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 83.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tiemann Investment Advisors LLC lifted its stake in shares of Fifth Third Bancorp by 3.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 250 shares during the period. CENTRAL TRUST Co lifted its stake in Fifth Third Bancorp by 4.1% in the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after buying an additional 260 shares during the period. Harbour Investments Inc. boosted its holdings in Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after buying an additional 263 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Fifth Third Bancorp by 17.9% during the third quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider’s stock worth $78,000 after buying an additional 267 shares during the last quarter. Finally, HBK Sorce Advisory LLC grew its position in shares of Fifth Third Bancorp by 0.7% during the 3rd quarter. HBK Sorce Advisory LLC now owns 36,083 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FITB. DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI set a $52.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, January 6th. Stephens upped their price objective on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, Keefe, Bruyette & Woods lifted 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. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.21.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Trading Down 0.5%

Shares of NASDAQ:FITB opened at $50.49 on Tuesday. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.02 and a beta of 0.97. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $53.33. The company’s fifty day simple moving average is $47.02 and its 200 day simple moving average is $44.66. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68.

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

Fifth Third Bancorp Announces Dividend

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

Fifth Third Bancorp Company Profile

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.