Fifth Third Bancorp (FITB, Financial), a diversified financial services company, recently witnessed a significant insider transaction. Kristine Garrett, Executive Vice President of the company, sold 7,100 shares on September 9, 2024. The transaction was filed with the SEC and can be viewed in detail here.
Following this sale, the insider now owns 63,413 shares of Fifth Third Bancorp. The shares were sold at a price of $41.72 each, totaling approximately $296,212. The sale has adjusted the insider's stake in the company significantly.
Over the past year, the insider has sold a total of 14,600 shares and has not made any purchases. This latest transaction continues a trend observed at Fifth Third Bancorp, where insider sells have outnumbered buys. In the past year, there has been only 1 insider buy compared to 14 insider sells.
Fifth Third Bancorp operates in the financial sector, providing various banking and financial services to personal and business customers. The company's services include loans, deposits, payment processing, and investment advising, among others.
On the valuation front, Fifth Third Bancorp's shares are currently trading at $41.72, giving the company a market cap of approximately $27.24 billion. The price-earnings ratio stands at 12.83, which is above the industry median of 10.17. According to the GF Value, the stock is considered Fairly Valued with a price-to-GF-Value ratio of 1.11.
The GF Value is a proprietary measure used to determine the fair value of a stock, taking into account historical trading multiples, adjustments based on the company's past performance, and future business expectations.
This insider sale might be of interest to investors tracking insider behaviors as an indicator of the company's future performance and stock 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.
