Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fifth Third Bancorp shares valued at $494,524 were sold by Feiger Mitchell Stuart on Jul 24 ’24. At $41.21 per share, Feiger Mitchell Stuart sold 12,000 shares. The insider’s holdings dropped to 20,961 shares worth approximately $0.86 million following the completion of this transaction.
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Also, Lavender Kevin P sold 20,000 shares, netting a total of over 835,369 in proceeds. Following the sale of shares at $41.77 each, the insider now holds 125,087 shares.
Before that, Zaunbrecher Susan B had sold 2,842 shares from its account. In a trade valued at $117,119, the EVP & CLO traded Fifth Third Bancorp shares for $41.21 each. Upon closing the transaction, the insider’s holdings decreased to 2,842 shares, worth approximately $3.95 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 2.53%. Over the course of the year, Fifth Third Bancorp shares have jumped approximately 18.88%. Shares of the company reached a 52-week high of $42.91 on 07/31/24 and a 52-week low of $32.29 on 02/13/24. A 50-day SMA is recorded $38.76, while a 200-day SMA reached $35.37. Nevertheless, trading volume fell to 3.2 million shares from 2.8 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 40.64, which, if violated, would cause prices to drop to 40.29. In the upper region, resistance lies at 41.31. The next price resistance is at 41.63. RSI (Relative Strength Index) is 59.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.84, which suggests the price will decrease in the coming days. Percent R is at 7.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
