SG Americas Securities LLC Acquires 242,545 Shares of Fifth Third Bancorp $FITB

SG Americas Securities LLC lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3,429.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,618 shares of the financial services provider’s stock after acquiring an additional 242,545 shares during the quarter. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $11,685,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Evolution Wealth Management Inc. bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $26,000. Westside Investment Management Inc. grew its position in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares during the period. Harbor Investment Advisory LLC increased its holdings in Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares during the last quarter. United Community Bank increased its holdings in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Fifth Third Bancorp in the second quarter worth about $48,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FITB shares. Stephens boosted their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Wolfe Research lifted their price target on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. initiated coverage on Fifth Third Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.50 price objective on the stock. TD Cowen reissued a “buy” rating and set a $60.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Finally, Robert W. Baird raised their target price on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.99.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $44.54 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $40.33 billion, a PE ratio of 12.58, a P/E/G ratio of 0.89 and a beta of 0.96. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company has a 50-day moving average price of $49.59 and a two-hundred day moving average price of $46.53.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 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.