SG Americas Securities LLC Trims Stake in Fifth Third Bancorp (NASDAQ:FITB)

SG Americas Securities LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 84.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 quarter.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $889,978,000 after buying an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Fifth Third Bancorp in the third quarter valued at $28,490,000. Millennium Management LLC increased its position in Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider's stock valued at $23,678,000 after purchasing an additional 583,781 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Fifth Third Bancorp by 76.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after purchasing an additional 575,449 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after purchasing an additional 409,292 shares during the period. Hedge funds and other institutional investors own 83.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FITB shares. Truist Financial increased their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. DA Davidson increased 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. Baird R W lowered Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Piper Sandler restated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.75.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB traded up $0.30 during mid-day trading on Tuesday, reaching $43.87. The company's stock had a trading volume of 2,818,471 shares, compared to its average volume of 4,983,040. The firm's fifty day moving average price is $44.39 and its two-hundred day moving average price is $43.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market cap of $29.42 billion, a P/E ratio of 13.97, a PEG ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed 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 3.37%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

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.