Mutual of America Capital Management LLC Sells 5,272 Shares of Fifth Third Bancorp $FITB

Mutual of America Capital Management LLC lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,943 shares of the financial services provider’s stock after selling 5,272 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fifth Third Bancorp were worth $6,332,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its position in Fifth Third Bancorp by 5.8% in the first quarter. Allianz Asset Management GmbH now owns 292,102 shares of the financial services provider’s stock valued at $11,450,000 after purchasing an additional 16,000 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Fifth Third Bancorp by 1.6% in the first quarter. Principal Financial Group Inc. now owns 818,564 shares of the financial services provider’s stock worth $32,088,000 after buying an additional 12,905 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of Fifth Third Bancorp by 49.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 47,392 shares of the financial services provider’s stock worth $1,858,000 after buying an additional 15,692 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Fifth Third Bancorp by 1,448.6% in the first quarter. Teacher Retirement System of Texas now owns 98,088 shares of the financial services provider’s stock worth $3,845,000 after buying an additional 91,754 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Fifth Third Bancorp by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 617,867 shares of the financial services provider’s stock worth $23,979,000 after buying an additional 68,578 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FITB shares. Piper Sandler decreased their price objective on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 7th. Argus increased their target price on Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. Citigroup increased their target price on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Robert W. Baird increased their target price on Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.45.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $41.80 on Tuesday. The stock has a market capitalization of $27.67 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.11 and a beta of 0.95. The stock has a 50-day moving average price of $44.30 and a 200 day moving average price of $40.91. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results 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 business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%.The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. Equities research analysts forecast 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. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.60 annualized dividend and a yield of 3.8%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) 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.