Hancock Whitney Corp Sells 478 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hancock Whitney Corp decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,446 shares of the financial services provider’s stock after selling 478 shares during the period. Hancock Whitney Corp’s holdings in Fifth Third Bancorp were worth $1,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. World Investment Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter worth $263,000. Wilmington Savings Fund Society FSB purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth about $191,000. Tidal Investments LLC boosted its stake in Fifth Third Bancorp by 10.0% in the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 2,265 shares during the period. Franklin Resources Inc. grew its holdings in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares in the last quarter. Finally, 1ST Source Bank purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth about $211,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $35.28 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The business’s 50 day simple moving average is $38.25 and its two-hundred day simple moving average is $42.41. The stock has a market capitalization of $23.57 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same period in the prior year, the business posted $0.70 EPS. Analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.20%. Fifth Third Bancorp’s payout ratio is presently 46.98%.

Analyst Ratings Changes

A number of research analysts have recently commented on FITB shares. Truist Financial reduced their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on 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. DA Davidson decreased their price objective on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Finally, Citigroup cut their price target 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the company’s 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 owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $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 company insiders.

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.