Federated Hermes Inc. Has $2.43 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Federated Hermes Inc. grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 33.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,515 shares of the financial services provider's stock after purchasing an additional 14,550 shares during the period. Federated Hermes Inc.'s holdings in Fifth Third Bancorp were worth $2,432,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FITB. Orion Portfolio Solutions LLC lifted its position in shares of Fifth Third Bancorp by 13.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,499 shares of the financial services provider's stock valued at $450,000 after acquiring an additional 1,285 shares during the period. M&T Bank Corp raised its stake in shares of Fifth Third Bancorp by 1.5% during the 3rd quarter. M&T Bank Corp now owns 43,173 shares of the financial services provider's stock worth $1,850,000 after buying an additional 654 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $263,000. Wilmington Savings Fund Society FSB acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $191,000. Finally, Tidal Investments LLC increased its holdings in Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock valued at $1,069,000 after acquiring an additional 2,265 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded down $0.16 on Thursday, hitting $34.24. 7,836,005 shares of the company were exchanged, compared to its average volume of 4,492,966. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company's 50 day moving average price is $39.54 and its two-hundred day moving average price is $42.77. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter last year, the firm earned $0.70 EPS. Research analysts expect 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 244,487 shares of the company's stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FITB. Wells Fargo & Company decreased their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Citigroup decreased 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 report on Monday, March 24th. Piper Sandler reissued an "overweight" rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.12.

Fifth Third Bancorp 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.