SG Americas Securities LLC Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

SG Americas Securities LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 62.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,319 shares of the financial services provider’s stock after selling 155,080 shares during the quarter. SG Americas Securities LLC’s holdings in Fifth Third Bancorp were worth $2,555,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FITB. Nuveen Asset Management LLC boosted its holdings in Fifth Third Bancorp by 21,301.1% in the second quarter. Nuveen Asset Management LLC now owns 6,318,040 shares of the financial services provider’s stock worth $176,274,000 after purchasing an additional 6,288,518 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Fifth Third Bancorp by 36.8% in the second quarter. Wells Fargo & Company MN now owns 7,491,535 shares of the financial services provider’s stock worth $209,013,000 after purchasing an additional 2,014,379 shares during the last quarter. Hexavest Inc. purchased a new stake in Fifth Third Bancorp in the second quarter worth approximately $38,972,000. Unigestion Holding SA boosted its holdings in Fifth Third Bancorp by 250.4% in the second quarter. Unigestion Holding SA now owns 1,422,984 shares of the financial services provider’s stock worth $39,701,000 after purchasing an additional 1,016,830 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Fifth Third Bancorp by 23.0% in the third quarter. Russell Investments Group Ltd. now owns 4,583,397 shares of the financial services provider’s stock worth $125,673,000 after purchasing an additional 855,653 shares during the last quarter. Institutional investors own 78.26% of the company’s stock.

In other news, EVP Philip Mchugh sold 36,382 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total value of $1,111,833.92. Also, Director Evan Bayh bought 4,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $25.93 per share, for a total transaction of $103,720.00. Following the completion of the acquisition, the director now owns 48,517 shares in the company, valued at $1,258,045.81. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Shares of NASDAQ FITB opened at $29.81 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $22.01 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.50 and a beta of 1.40. The firm’s fifty day moving average is $28.08 and its two-hundred day moving average is $27.62. Fifth Third Bancorp has a 52-week low of $22.12 and a 52-week high of $30.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Fifth Third Bancorp had a net margin of 24.36% and a return on equity of 11.40%. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts forecast that Fifth Third Bancorp will post 2.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.22%. Fifth Third Bancorp’s dividend payout ratio is currently 37.80%.

FITB has been the topic of several research reports. Raymond James raised their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. BidaskClub cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. Nomura set a $29.00 price target on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a research note on Friday, July 26th. Citigroup dropped their price target on shares of Fifth Third Bancorp from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group upgraded shares of Fifth Third Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $33.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.43.

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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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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