AG2R LA Mondiale Gestion D Actifs Has $1.32 Million Stock Holdings in Fifth Third Bancorp $FITB

AG2R LA Mondiale Gestion D Actifs boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 17.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 32,090 shares of the financial services provider’s stock after buying an additional 4,707 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Fifth Third Bancorp were worth $1,320,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FITB. Sumitomo Mitsui Trust Group Inc. lifted its position in Fifth Third Bancorp by 2.9% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,520,357 shares of the financial services provider’s stock worth $62,532,000 after acquiring an additional 42,625 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the second quarter worth approximately $56,000. Asset Management One Co. Ltd. increased its stake in shares of Fifth Third Bancorp by 2.5% during the second quarter. Asset Management One Co. Ltd. now owns 283,119 shares of the financial services provider’s stock worth $11,645,000 after purchasing an additional 6,982 shares during the period. Ethic Inc. lifted its holdings in Fifth Third Bancorp by 72.2% during the 2nd quarter. Ethic Inc. now owns 152,280 shares of the financial services provider’s stock worth $6,321,000 after purchasing an additional 63,847 shares during the last quarter. Finally, Denali Advisors LLC bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at $261,000. 83.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Evan Bayh acquired 3,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $41.22 per share, with a total value of $123,660.00. Following the transaction, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FITB. TD Cowen increased their price objective on Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $45.00 to $49.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wolfe Research lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fifth Third Bancorp in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.45.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $42.63 on Friday. The firm’s fifty day moving average price is $44.25 and its two-hundred day moving average price is $41.10. The stock has a market cap of $28.22 billion, a PE ratio of 12.73, a PEG ratio of 1.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Fifth Third Bancorp’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.8%. Fifth Third Bancorp’s payout ratio is 47.76%.

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.