Groupama Asset Managment Sells 27,171 Shares of Fifth Third Bancorp $FITB

Groupama Asset Managment cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 53.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,332 shares of the financial services provider’s stock after selling 27,171 shares during the quarter. Groupama Asset Managment’s holdings in Fifth Third Bancorp were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth $26,000. United Community Bank raised its position in shares of Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. Guerra Advisors Inc bought a new stake in Fifth Third Bancorp during the third quarter valued at $51,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Fifth Third Bancorp during the second quarter worth about $48,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Up 1.2%

Shares of FITB stock opened at $44.19 on Friday. The business has a 50-day moving average price of $49.92 and a two-hundred day moving average price of $46.53. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The firm has a market cap of $40.02 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.87 and a beta of 0.96.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.40 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore upped their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Robert W. Baird lifted their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada boosted their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Wall Street Zen cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Truist Financial lowered their target price on shares of Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.99.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.