Amalgamated Bank Sells 4,441 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Amalgamated Bank cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC grew its holdings in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter worth $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $36,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $42.98 on Friday. The company’s fifty day simple moving average is $43.42 and its 200 day simple moving average is $43.71. Fifth Third Bancorp has a 1-year low of $33.48 and a 1-year high of $49.07. The company has a market cap of $28.82 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.42 and a beta of 1.23. 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Analyst Ratings Changes

Several research analysts have weighed in on FITB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.75.

Insider Buying and Selling

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.