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Insider Selling: Feiger Mitchell Stuart, Fifth Third Bancorp [FITB] Director divested 76,011 shares

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 $2,922,319 were sold by Feiger Mitchell Stuart on May 13 ’24. At $38.45 per share, Feiger Mitchell Stuart sold 76,011 shares. The insider’s holdings dropped to 32,915 shares worth approximately $1.21 million following the completion of this transaction.

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Also, Schramm Jude sold 2,500 shares, netting a total of over 93,750 in proceeds. Following the sale of shares at $37.50 each, the insider now holds 136,922 shares.

Before that, Garrett Kristine R. had sold 7,500 shares from its account. In a trade valued at $274,457, the EVP traded Fifth Third Bancorp shares for $36.59 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $2.61 million.

As published in a research note from Wolfe Research on May 31, 2024, Fifth Third Bancorp [FITB] has been rated up from a Peer perform to an Outperform and the price target has been revised to $43. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early May. As of April 01, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for FITB. Earlier on March 19, 2024, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for FITB stock which previously was a “an Overweight”.

Analyzing FITB Stock Performance

During the last five days, there has been a surge of approximately 2.25%. Over the course of the year, Fifth Third Bancorp shares have jumped approximately 6.52%. Shares of the company reached a 52-week high of $39.14 on 05/15/24 and a 52-week low of $32.29 on 02/13/24. A 50-day SMA is recorded $36.92, while a 200-day SMA reached $32.71. Nevertheless, trading volume fell to 2.44 million shares from 4.23 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 36.53, which, if violated, would cause prices to drop to 36.27. In the upper region, resistance lies at 37.19. The next price resistance is at 37.60. RSI (Relative Strength Index) is 53.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 23.90%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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