Mufg Securities Americas Inc. Acquires New Position in Fifth Third Bancorp (NASDAQ:FITB)

Mufg Securities Americas Inc. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,109 shares of the financial services provider’s stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital lifted its position in Fifth Third Bancorp by 5.8% in the 4th quarter. Wedmont Private Capital now owns 10,077 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 550 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in shares of Fifth Third Bancorp by 7.9% during the fourth quarter. Accurate Wealth Management LLC now owns 10,847 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 798 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $204,000. Pines Wealth Management LLC bought a new stake in Fifth Third Bancorp in the 4th quarter worth about $211,000. Finally, Oak Thistle LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $243,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $39.49 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market cap of $26.36 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.42 and a beta of 0.89. The company’s 50 day moving average is $36.91 and its two-hundred day moving average is $41.78.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.75%. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Activity at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction 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 owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FITB. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Monday, April 7th. Citigroup cut their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Baird R W raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.56.

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.