Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fifth Third Bancorp shares valued at $274,457 were sold by Garrett Kristine R. on Apr 23 ’24. At $36.59 per share, Garrett Kristine R. sold 7,500 shares. The insider’s holdings dropped to 70,913 shares worth approximately $2.64 million following the completion of this transaction.
Also, Gibson Kala sold 14,857 shares, netting a total of over 540,549 in proceeds. Following the sale of shares at $36.38 each, the insider now holds 46,646 shares.
Before that, Schramm Jude had sold 5,000 shares from its account. In a trade valued at $181,900, the EVP & CIO traded Fifth Third Bancorp shares for $36.38 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $5.19 million.
As published in a research note from Robert W. Baird on April 01, 2024, Fifth Third Bancorp [FITB] has been rated down from an Outperform to a Neutral and the price target has been revised to $32. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid March. As of January 09, 2024, Keefe Bruyette has decreased its “an Outperform” rating to a “Mkt perform” for FITB. Earlier on August 24, 2023, Raymond James initiated its rating. Their recommendation was “a Mkt perform” for FITB stock.
Analyzing FITB Stock Performance
During the last five days, there has been a surge of approximately 9.18%. Over the course of the year, Fifth Third Bancorp shares have jumped approximately 7.94%. Shares of the company reached a 52-week high of $37.41 on 03/28/24 and a 52-week low of $32.29 on 02/13/24. A 50-day SMA is recorded $35.32, while a 200-day SMA reached $30.38. Nevertheless, trading volume fell to 3.63 million shares from 4.29 million shares the previous day.
Support And Resistance Levels for Fifth Third Bancorp (FITB)
According to the 24-hour chart, there is a support level at 36.75, which, if violated, would cause prices to drop to 36.27. In the upper region, resistance lies at 37.49. The next price resistance is at 37.76. RSI (Relative Strength Index) is 62.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.51, which suggests the price will increase in the coming days. Percent R is at 1.30%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
