Top 5 Stock Picks of Kenneth A. Moffet’s Hourglass Capital

2. Fifth Third Bancorp (NASDAQ:FITB)

Hourglass Capital Stake Value: $11,126,000
Percentage of Hourglass Capital’s 13F Portfolio: 3.72%
Number of Hedge Fund Holders: 28

Through its subsidiary, Fifth Third Bank, Fifth Third Bancorp (NASDAQ:FITB) provides banking and financial services, retail and commercial banking, consumer loan services, and investment advisory services. On February 3, JPMorgan analyst Vivek Juneja raised his price target on Fifth Third Bancorp (NASDAQ:FITB) to $48.50 from $48 and kept an Overweight rating on the shares.

Fifth Third Bancorp (NASDAQ:FITB), on January 20, posted earnings for the fourth quarter. The reported EPS came in at $0.93, beating estimates by $0.03. In addition, revenue over the period gained 3.0% compared to the previous-year quarter, reaching $2.03 billion, outperforming forecasts by $10 million.

At the end of the third quarter of 2021, 28 hedge funds in the database of Insider Monkey held stakes valuing $283.75 million in Fifth Third Bancorp (NASDAQ:FITB), down from 41 in the preceding quarter totalling $360.35 million.