Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fifth Third Bancorp shares valued at $93,750 were sold by Schramm Jude on May 01 ’24. At $37.50 per share, Schramm Jude sold 2,500 shares. The insider’s holdings dropped to 136,922 shares worth approximately $5.27 million following the completion of this transaction.
Also, Garrett Kristine R. sold 7,500 shares, netting a total of over 274,457 in proceeds. Following the sale of shares at $36.59 each, the insider now holds 70,913 shares.
Before that, Gibson Kala had sold 14,857 shares from its account. In a trade valued at $540,549, the EVP traded Fifth Third Bancorp shares for $36.38 each. Upon closing the transaction, the insider’s holdings decreased to 14,857 shares, worth approximately $1.79 million.
As published in a research note from JP Morgan on May 01, 2024, Fifth Third Bancorp [FITB] has been rated up from a Neutral to an Overweight and the price target has been revised to $39.50 from $37.50. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early April. As of March 19, 2024, Stephens has decreased its “an Overweight” rating to a “an Equal-weight” for FITB. Earlier on January 09, 2024, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for FITB stock which previously was a “an Outperform”.
Analyzing FITB Stock Performance
During the last five days, there has been a surge of approximately 3.72%. Over the course of the year, Fifth Third Bancorp shares have jumped approximately 11.57%. Shares of the company reached a 52-week high of $38.51 on 05/08/24 and a 52-week low of $32.29 on 02/13/24. A 50-day SMA is recorded $36.08, while a 200-day SMA reached $30.85. Nevertheless, trading volume fell to 3.04 million shares from 4.59 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 37.86, which, if violated, would cause prices to drop to 37.25. In the upper region, resistance lies at 38.80. The next price resistance is at 39.13. RSI (Relative Strength Index) is 67.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.00, which suggests the price will increase in the coming days. Percent R is at 0.85%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
