Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 162,930 shares of the financial services provider’s stock after buying an additional 10,883 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fifth Third Bancorp were worth $6,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its position in Fifth Third Bancorp by 18.3% during the fourth quarter. Private Trust Co. NA now owns 2,721 shares of the financial services provider’s stock valued at $115,000 after buying an additional 421 shares during the period. Argyle Capital Management LLC lifted its holdings in Fifth Third Bancorp by 4.9% during the fourth quarter. Argyle Capital Management LLC now owns 30,000 shares of the financial services provider’s stock valued at $1,268,000 after purchasing an additional 1,400 shares in the last quarter. Verus Capital Partners LLC lifted its holdings in Fifth Third Bancorp by 12.2% during the fourth quarter. Verus Capital Partners LLC now owns 12,186 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,324 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Fifth Third Bancorp by 10.5% during the fourth quarter. QRG Capital Management Inc. now owns 79,384 shares of the financial services provider’s stock valued at $3,356,000 after purchasing an additional 7,526 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $6,416,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.75.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $43.47 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $28.93 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.42 and a beta of 1.23. The company’s 50-day moving average is $43.43 and its two-hundred day moving average is $43.80. Fifth Third Bancorp has a 1-year low of $33.48 and a 1-year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued 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 3.40%. Fifth Third Bancorp’s payout ratio is 47.13%.

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.