Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,209 shares of the financial services provider’s stock after purchasing an additional 6,684 shares during the quarter. Amalgamated Bank’s holdings in Fifth Third Bancorp were worth $6,112,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in Fifth Third Bancorp by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 3,476 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Fifth Third Bancorp by 57.5% in the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock valued at $25,551,000 after purchasing an additional 269,152 shares in the last quarter. Raymond James & Associates grew its holdings in Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after purchasing an additional 69,273 shares during the period. International Assets Investment Management LLC raised its stake in shares of Fifth Third Bancorp by 48.0% during the 4th quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after buying an additional 113,838 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Fifth Third Bancorp by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock valued at $376,413,000 after acquiring an additional 393,937 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Royal Bank of Canada increased their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.50.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock worth $1,787,638 over the last 90 days. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Trading Up 1.8 %

FITB opened at $37.56 on Monday. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.77. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $35.88 and a 200 day moving average price of $32.76.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the company earned $0.78 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

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.