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Recent Insider Activity Could Benefit Fifth Third Bancorp (FITB)

Fifth Third Bancorp’s recent filing unveils that its Director Feiger Mitchell Stuart unloaded Company’s shares for reported $2.92 million on May 13 ’24. In the deal valued at $38.45 per share,76,011 shares were sold. As a result of this transaction, Feiger Mitchell Stuart now holds 32,915 shares worth roughly $1.19 million.

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Then, Schramm Jude sold 2,500 shares, generating $93,750 in total proceeds. Upon selling the shares at $37.50, the EVP & CIO now owns 136,922 shares.

Before that, Garrett Kristine R. sold 7,500 shares. Fifth Third Bancorp shares valued at $274,457 were divested by the EVP at a price of $36.59 per share. As a result of the transaction, Garrett Kristine R. now holds 70,913 shares, worth roughly $2.56 million.

Wolfe Research upgraded its Fifth Third Bancorp [FITB] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in early May from “a Neutral” to “an Overweight”. Robert W. Baird also remained covering FITB and has decreased its forecast on April 01, 2024 with a “Neutral” recommendation from previously “an Outperform” rating. Stephens revised its rating on March 19, 2024. It rated FITB as “an Equal-weight” which previously was an “an Overweight”.

Price Performance Review of FITB

On Friday, Fifth Third Bancorp [NASDAQ:FITB] saw its stock jump 0.06% to $36.13. Over the last five days, the stock has lost -3.45%. Fifth Third Bancorp shares have risen nearly 4.75% since the year began. Nevertheless, the stocks have risen 33.22% over the past one year. While a 52-week high of $39.14 was reached on 05/15/24, a 52-week low of $22.49 was recorded on 02/13/24. SMA at 50 days reached $36.74, while 200 days put it at $31.90. A total of 3.62 million shares were traded, compared to the trading of 3.17 million shares in the previous session.

Levels Of Support And Resistance For FITB Stock

The 24-hour chart illustrates a support level at 35.76, which if violated will result in even more drops to 35.39. On the upside, there is a resistance level at 36.39. A further resistance level may holdings at 36.66. The Relative Strength Index (RSI) on the 14-day chart is 42.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.82%. Stochastics %K at 17.58% indicates the stock is a buying.

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