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

SG Americas Securities LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 3,429.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 249,618 shares of the financial services provider’s stock after acquiring an additional 242,545 shares during the period. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $11,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new position in shares of Fifth Third Bancorp in the 2nd quarter worth $26,000. Westside Investment Management Inc. increased its stake in Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares in the last quarter. United Community Bank raised 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 acquired a new position in Fifth Third Bancorp during the second quarter worth $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB opened at $44.54 on Friday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. 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 company has a market capitalization of $40.33 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.89 and a beta of 0.96. The firm’s fifty day moving average price is $49.59 and its two-hundred day moving average price is $46.53.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.6%. Fifth Third Bancorp’s payout ratio is 45.20%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FITB. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. DA Davidson upped their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Evercore raised their price target on shares of Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Citigroup lifted their price target on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group boosted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.99.

Fifth Third Bancorp 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.