SG Americas Securities LLC Has $1.46 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

SG Americas Securities LLC boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 176.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,311 shares of the financial services provider's stock after acquiring an additional 23,796 shares during the quarter. SG Americas Securities LLC's holdings in Fifth Third Bancorp were worth $1,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FITB. Norges Bank bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $371,836,000. PL Capital Advisors LLC raised its position in Fifth Third Bancorp by 4,128.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock valued at $78,654,000 after purchasing an additional 1,816,320 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Fifth Third Bancorp in the fourth quarter worth $53,508,000. GAMMA Investing LLC grew its holdings in shares of Fifth Third Bancorp by 4,271.4% during the first quarter. GAMMA Investing LLC now owns 1,203,362 shares of the financial services provider's stock worth $47,172,000 after purchasing an additional 1,175,834 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Fifth Third Bancorp by 12.1% in the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after buying an additional 1,027,044 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Up 1.0%

NASDAQ:FITB traded up $0.39 during trading hours on Friday, reaching $39.17. 3,137,248 shares of the stock were exchanged, compared to its average volume of 4,480,129. The stock has a market cap of $26.14 billion, a PE ratio of 12.43, a PEG ratio of 1.34 and a beta of 0.90. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The firm has a 50 day moving average of $37.34 and a 200 day moving average of $40.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. Fifth Third Bancorp had a net margin of 17.65% and a return on equity of 13.64%. During the same period last year, the business earned $0.70 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp announced that its board has initiated a share buyback plan on Monday, June 16th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FITB shares. Truist Financial lowered their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 price target for the company. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a report on Monday, April 7th. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and an average price target of $47.53.

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.