SG Americas Securities LLC Sells 76,273 Shares of Fifth Third Bancorp (NASDAQ:FITB)

SG Americas Securities LLC decreased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 84.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,515 shares of the financial services provider’s stock after selling 76,273 shares during the quarter. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $571,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FITB. Charles Schwab Investment Management Inc. boosted its stake in Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after buying an additional 732,651 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after purchasing an additional 399,827 shares during the period. Franklin Resources Inc. grew its holdings in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after purchasing an additional 409,292 shares during the last quarter. Smead Capital Management Inc. raised its position in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after purchasing an additional 75,024 shares during the period. Finally, Zacks Investment Management lifted its stake in Fifth Third Bancorp by 10.0% in the third quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after purchasing an additional 158,067 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $44.31 on Friday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a market capitalization of $29.71 billion, a PE ratio of 14.11, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day simple moving average of $44.55 and a two-hundred day simple moving average of $43.28.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FITB. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp 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.