Executive Vice President and Chief Operating Officer James Leonard has sold 26,500 shares of Fifth Third Bancorp (FITB, Financial) on March 11, 2024, according to a recent SEC Filing. The transaction was executed at a price of $36.66 per share, resulting in a total sale amount of $971,490.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The company operates through four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third Bancorp provides a range of financial products and services to personal and business customers, including checking and savings accounts, loans, credit cards, and investment services.
Over the past year, the insider has sold a total of 26,500 shares and has not made any purchases of the company's stock. The recent sale by James Leonard follows a pattern of insider transactions at Fifth Third Bancorp, with a total of 3 insider buys and 3 insider sells occurring over the past year.
On the valuation front, Fifth Third Bancorp's shares were trading at $36.66 on the day of the insider's sale, giving the company a market capitalization of $25.086 billion. The price-earnings ratio stands at 11.36, which is above the industry median of 9.34 and also higher than the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a current price of $36.66 and a GF Value of $39.67, Fifth Third Bancorp has a price-to-GF-Value ratio of 0.92, indicating that the stock is Fairly Valued in relation to its intrinsic value as estimated by GuruFocus.
The GF Value is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. While a single insider selling transaction may not be indicative of the company's future performance, a pattern of insider sales could signal how insiders view the stock's valuation.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
