TIAA Trust National Association Has $337,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

TIAA Trust National Association increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,974 shares of the financial services provider’s stock after purchasing an additional 361 shares during the quarter. TIAA Trust National Association’s holdings in Fifth Third Bancorp were worth $337,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at about $33,000. Finally, Y.D. More Investments Ltd lifted its position in Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on FITB. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial lifted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Citigroup dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.64.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of the business’s 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $38.81 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $25.93 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The stock’s 50-day simple moving average is $42.18 and its 200 day simple moving average is $43.50.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.