Federated Hermes Inc. Sells 2,104 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Federated Hermes Inc. lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,463 shares of the financial services provider’s stock after selling 2,104 shares during the period. Federated Hermes Inc.’s holdings in Fifth Third Bancorp were worth $1,568,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC raised its holdings in shares of Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $36,000. Financial Management Professionals Inc. lifted its holdings in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $48,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Fifth Third Bancorp by 83.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock worth $53,000 after buying an additional 695 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders sold a total of 46,357 shares of company stock valued at $1,693,888 in the last three months. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $37.00 on Tuesday. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $32.41. The firm has a market cap of $25.20 billion, a PE ratio of 11.75, a PEG ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $0.78 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

FITB has been the topic of several recent analyst reports. Robert W. Baird restated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. UBS Group reissued a “neutral” rating and set a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 target price (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $36.31.

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.