Mutual of America Capital Management LLC Has $5.69 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mutual of America Capital Management LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,898 shares of the financial services provider’s stock after selling 42,018 shares during the period. Mutual of America Capital Management LLC’s holdings in Fifth Third Bancorp were worth $5,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FITB. Gilbert & Cook Inc. lifted its holdings in shares of Fifth Third Bancorp by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 19,698 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 729 shares in the last quarter. Aveo Capital Partners LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at $206,000. 9258 Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 4.6% during the 4th quarter. 9258 Wealth Management LLC now owns 14,019 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 620 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $200,000. Finally, Brown Advisory Inc. raised its holdings in shares of Fifth Third Bancorp by 33.3% in the fourth quarter. Brown Advisory Inc. now owns 32,303 shares of the financial services provider’s stock valued at $1,114,000 after purchasing an additional 8,062 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now directly owns 134,422 shares in the company, valued at $5,376,880. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at approximately $863,802.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,500 shares of company stock valued at $2,269,920. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FITB. Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Bank of America lifted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Wolfe Research upgraded Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.16.

Fifth Third Bancorp Stock Down 0.9 %

Fifth Third Bancorp stock opened at $43.24 on Friday. The firm has a 50 day simple moving average of $41.17 and a 200 day simple moving average of $38.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.85. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.93 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

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.