Tiemann Investment Advisors LLC Has $273,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Tiemann Investment Advisors LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,450 shares of the financial services provider’s stock after selling 425 shares during the period. Tiemann Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $273,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FITB. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth $28,000. Venturi Wealth Management LLC increased its holdings in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the fourth quarter worth about $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $33,000. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent research reports. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens reissued an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Truist Financial increased their target price on shares of 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 analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Trading Up 0.5 %

FITB stock opened at $40.06 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The company has a market cap of $26.66 billion, a P/E ratio of 12.76, a PEG ratio of 1.42 and a beta of 1.21. The business has a fifty day moving average of $43.23 and a 200-day moving average of $43.81.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.69%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents 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.

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.