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

Amalgamated Bank reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,305 shares of the financial services provider's stock after selling 38,812 shares during the period. Amalgamated Bank's holdings in Fifth Third Bancorp were worth $5,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FITB. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the second quarter worth $34,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 312 shares during the period. Family Firm Inc. acquired a new position in Fifth Third Bancorp during the second quarter valued at $52,000. Catalyst Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at $53,000. Finally, Abich Financial Wealth Management LLC lifted its position in Fifth Third Bancorp by 1,787.3% during the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,269 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.33 on Friday, reaching $46.26. 3,674,718 shares of the company were exchanged, compared to its average volume of 4,638,925. Fifth Third Bancorp has a 1 year low of $24.64 and a 1 year high of $46.90. The company has a market cap of $31.31 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 2.05 and a beta of 1.21. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day moving average price of $43.09 and a 200 day moving average price of $40.00.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm's revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.20%. This is a positive change from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp's payout ratio is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FITB. StockNews.com downgraded shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Barclays lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Finally, Evercore ISI lifted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $42.28.

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.