Fifth Third Bancorp’s recent filing unveils that its EVP & CIO Schramm Jude unloaded Company’s shares for reported $0.18 million on Mar 25 ’24. In the deal valued at $36.38 per share,5,000 shares were sold. As a result of this transaction, Schramm Jude now holds 139,422 shares worth roughly $4.92 million.
Then, Leonard James C. sold 26,500 shares, generating $971,606 in total proceeds. Upon selling the shares at $36.66, the EVP & Chief Operating Officer now owns 229,344 shares.
Before that, Lavender Kevin P sold 15,000 shares. Fifth Third Bancorp shares valued at $501,675 were divested by the EVP at a price of $33.45 per share. As a result of the transaction, Lavender Kevin P now holds 82,930 shares, worth roughly $2.93 million.
Robert W. Baird downgraded its Fifth Third Bancorp [FITB] rating to a Neutral from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Stephens’s analysts, who decreased its forecast for the stock in mid March from “an Overweight” to “an Equal-weight”. Keefe Bruyette also remained covering FITB and has decreased its forecast on January 09, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. Raymond James started covering the stock on August 24, 2023. It rated FITB as “a Mkt perform”.
Price Performance Review of FITB
On Friday, Fifth Third Bancorp [NASDAQ:FITB] saw its stock jump 0.06% to $35.30. Over the last five days, the stock has lost -5.13%. Fifth Third Bancorp shares have risen nearly 2.35% since the year began. Nevertheless, the stocks have risen 37.84% over the past one year. While a 52-week high of $37.41 was reached on 03/28/24, a 52-week low of $22.46 was recorded on 02/13/24. SMA at 50 days reached $34.98, while 200 days put it at $29.78. A total of 2.89 million shares were traded, compared to the trading of 4.04 million shares in the previous session.
Levels Of Support And Resistance For FITB Stock
The 24-hour chart illustrates a support level at 35.01, which if violated will result in even more drops to 34.72. On the upside, there is a resistance level at 35.57. A further resistance level may holdings at 35.83. The Relative Strength Index (RSI) on the 14-day chart is 46.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.74%. Stochastics %K at 22.22% indicates the stock is a holding.
How much short interest is there in Fifth Third Bancorp?
A steep rise in short interest was recorded in Fifth Third Bancorp stocks on Mar 15, 2024, growing by 2.76 million shares to a total of 21.03 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 18.27 million shares. There was a rise of 13.12%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.67.
