SG Americas Securities LLC Has $2.30 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

SG Americas Securities LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 65.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,675 shares of the financial services provider’s stock after purchasing an additional 26,408 shares during the period. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Burns Matteson Capital Management LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $858,000. Henrickson Nauta Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $328,000. Sterling Investment Counsel LLC raised its position in shares of Fifth Third Bancorp by 5.2% in the 4th quarter. Sterling Investment Counsel LLC now owns 10,703 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 525 shares during the period. Financial Management Professionals Inc. boosted its stake in Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Davis Investment Partners LLC grew its holdings in Fifth Third Bancorp by 119.5% during the fourth quarter. Davis Investment Partners LLC now owns 22,025 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 11,991 shares during the period. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FITB. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, January 9th. The Goldman Sachs Group increased their price target on Fifth Third Bancorp from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Stephens reiterated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. UBS Group boosted their price objective on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $35.30.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $36.74 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $34.69 and a 200-day moving average of $30.68. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.39 and a beta of 1.26. Fifth Third Bancorp has a fifty-two week low of $22.46 and a fifty-two week high of $37.36.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.22. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, sell-side analysts predict that Fifth Third Bancorp will post 3.16 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 43.34%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.