SG Americas Securities LLC decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 35.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,609 shares of the financial services provider’s stock after selling 26,361 shares during the period. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $1,340,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of FITB. Clearview Wealth Advisors LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at $25,000. Chiron Capital Management LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at $26,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Fifth Third Bancorp by 223.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 956 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 660 shares during the period. West Oak Capital LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $28,000. Finally, Clear Perspectives Financial Planning LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
Fifth Third Bancorp stock opened at $34.88 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. Fifth Third Bancorp has a 12 month low of $11.10 and a 12 month high of $35.40. The stock’s 50 day simple moving average is $31.42 and its two-hundred day simple moving average is $25.58. The firm has a market cap of $24.85 billion, a PE ratio of 17.35, a P/E/G ratio of 1.54 and a beta of 1.63.
A number of analysts recently weighed in on FITB shares. Royal Bank of Canada upped their price objective on shares of Fifth Third Bancorp from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, January 22nd. UBS Group lowered shares of Fifth Third Bancorp from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Friday, October 30th. TheStreet lowered shares of Fifth Third Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, January 21st. Argus upped their price objective on shares of Fifth Third Bancorp from $27.00 to $35.00 in a research note on Wednesday, January 27th. Finally, Barclays boosted their target price on shares of Fifth Third Bancorp from $28.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 4th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.14.
In other news, EVP Robert P. Shaffer sold 8,900 shares of the stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $28.96, for a total transaction of $257,744.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.
Fifth Third Bancorp Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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