Franklin Resources Inc. Has $353.35 Million Stock Holdings in Fifth Third Bancorp $FITB

Franklin Resources Inc. boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,931,624 shares of the financial services provider’s stock after acquiring an additional 690,648 shares during the quarter. Franklin Resources Inc.’s holdings in Fifth Third Bancorp were worth $353,354,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new stake in shares of Fifth Third Bancorp in the second quarter worth $26,000. Westside Investment Management Inc. raised its position in Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares during the last quarter. United Community Bank raised its position in Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 581 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Fifth Third Bancorp during the 2nd quarter worth about $48,000. Finally, Country Trust Bank bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $51,000. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FITB shares. Argus increased their price target on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Citigroup upped their target price on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. DA Davidson increased their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Janney Montgomery Scott raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Wolfe Research boosted their price target on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $56.91.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $45.06 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company has a fifty day moving average of $50.60 and a 200-day moving average of $46.61. The firm has a market capitalization of $40.64 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.95 and a beta of 0.96.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.