Amalgamated Bank Raises Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

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

Several other large investors have also recently added to or reduced their stakes in FITB. Independence Bank of Kentucky grew its stake in shares of Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after buying an additional 355 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in Fifth Third Bancorp by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 389 shares in the last quarter. Vicus Capital lifted its holdings in Fifth Third Bancorp by 4.1% in the 4th quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after buying an additional 397 shares in the last quarter. Advisory Resource Group boosted its position in Fifth Third Bancorp by 0.4% in the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after buying an additional 435 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.4% during the third quarter. Raleigh Capital Management Inc. now owns 13,694 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 451 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on FITB. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. UBS Group reaffirmed a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, Morgan Stanley reissued 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.50.

Insider Activity

In related news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jude Schramm sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Up 1.8 %

Shares of FITB stock opened at $37.56 on Monday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.77. The firm has a market capitalization of $25.58 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a fifty day moving average of $35.88 and a two-hundred day moving average of $32.76. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81.

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

Fifth Third Bancorp Dividend Announcement

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

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.