Amalgamated Bank Has $5.45 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Amalgamated Bank decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 128,864 shares of the financial services provider’s stock after selling 4,441 shares during the period. Amalgamated Bank’s holdings in Fifth Third Bancorp were worth $5,448,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Fifth Third Bancorp by 8.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock worth $930,000 after buying an additional 1,740 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Fifth Third Bancorp by 0.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,408 shares of the financial services provider’s stock worth $6,186,000 after acquiring an additional 993 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in Fifth Third Bancorp by 7.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,220 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 1,363 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Fifth Third Bancorp by 5.4% in the third quarter. Pinnacle Associates Ltd. now owns 6,016 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 306 shares during the last quarter. Finally, Nadler Financial Group Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $230,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on FITB shares. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Citigroup upped their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $42.98 on Friday. The company has a market capitalization of $28.82 billion, a PE ratio of 13.69, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $33.48 and a twelve month high of $49.07. The firm has a fifty day simple moving average of $43.42 and a 200 day simple moving average of $43.71.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 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.