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

Groupama Asset Managment lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 35.6% in the fourth quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $28,000. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd increased its position in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FITB has been the topic of several analyst reports. Barclays upped their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Truist Financial boosted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Citigroup reduced their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Stephens restated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.50.

Fifth Third Bancorp Trading Up 1.8 %

Fifth Third Bancorp stock opened at $39.62 on Thursday. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The firm has a market capitalization of $26.47 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 1.21. The firm has a 50 day moving average of $41.88 and a 200 day moving average of $43.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.74%. Fifth Third Bancorp’s payout ratio is 47.13%.

About Fifth Third Bancorp

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.