Groupama Asset Managment Sells 24,906 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Groupama Asset Managment cut its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 35.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,126 shares of the financial services provider's stock after selling 24,906 shares during the period. Groupama Asset Managment's holdings in Fifth Third Bancorp were worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Boston Common Asset Management LLC grew its position in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after buying an additional 34,203 shares during the period. Boston Partners grew its holdings in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares during the period. AMJ Financial Wealth Management increased its position in Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock worth $9,843,000 after buying an additional 9,401 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $9,878,000. 83.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company's stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FITB. DA Davidson boosted their price objective 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. Citigroup lowered their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Truist Financial raised their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.12.

Fifth Third Bancorp Stock Up 0.7 %

Shares of FITB traded up $0.24 during mid-day trading on Monday, reaching $33.99. The company had a trading volume of 3,551,614 shares, compared to its average volume of 4,393,115. Fifth Third Bancorp has a 52 week low of $31.10 and a 52 week high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day moving average price of $41.50 and a 200 day moving average price of $43.36. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.35%. 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.