Mutual of America Capital Management LLC Increases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Mutual of America Capital Management LLC increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,930 shares of the financial services provider's stock after purchasing 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 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth $28,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $36,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 2.0 %

Shares of FITB traded down $0.82 during mid-day trading on Thursday, reaching $39.63. The company had a trading volume of 2,342,829 shares, compared to its average volume of 4,628,609. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $43.36 and a 200-day simple moving average of $43.80. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07.

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Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.73%. Fifth Third Bancorp's dividend payout ratio is presently 47.13%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp 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 transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

FITB has been the topic of several recent analyst reports. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Piper Sandler restated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $47.31.

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.