Mutual of America Capital Management LLC Decreases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mutual of America Capital Management LLC reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Edgestream Partners L.P. raised its position in Fifth Third Bancorp by 650.0% in the 2nd quarter. Edgestream Partners L.P. now owns 102,444 shares of the financial services provider’s stock worth $3,738,000 after purchasing an additional 88,784 shares during the period. Lmcg Investments LLC increased its holdings in shares of Fifth Third Bancorp by 2.7% in the second quarter. Lmcg Investments LLC now owns 225,706 shares of the financial services provider’s stock worth $8,236,000 after buying an additional 5,888 shares during the period. Citizens Financial Group Inc. RI bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $456,000. Dimensional Fund Advisors LP boosted its holdings in Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after acquiring an additional 281,494 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Fifth Third Bancorp by 44.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 43,313 shares of the financial services provider’s stock worth $1,580,000 after acquiring an additional 13,390 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s 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 $863,802.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, 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 worth $2,269,920. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $43.24 on Friday. The company’s fifty day moving average price is $41.17 and its 200-day moving average price is $38.14. The stock has a market cap of $29.58 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. 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 12 month low of $22.49 and a 12 month high of $43.85.

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

Fifth Third Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Fifth Third Bancorp 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.