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Fifth Third Bancorp EVP Kristine Garrett Sells 7,500 Shares

Kristine Garrett, Executive Vice President of Fifth Third Bancorp (NASDAQ:FITB), has sold 7,500 shares of the company on April 23, 2024, according to a recent SEC Filing. The transaction was executed at a price of $36.59 per share, which resulted in a total sale amount of $274,425.

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 7,500 shares and has not made any purchases. The recent sale by Kristine Garrett follows a pattern observed in the insider transaction history for Fifth Third Bancorp, which has seen 2 insider buys and 6 insider sells over the past year.

Fifth Third Bancorp EVP Kristine Garrett Sells 7,500 Shares
Fifth Third Bancorp EVP Kristine Garrett Sells 7,500 Shares

On the valuation front, Fifth Third Bancorp's shares were trading at $36.59 on the day of the insider's sale, giving the company a market cap of $25.345 billion. The price-earnings ratio stands at 11.77, which is above the industry median of 9.31 and also higher than the company's historical median price-earnings ratio.

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According to the GuruFocus Value chart, with a current price of $36.59 and a GF Value of $39.70, Fifth Third Bancorp has a price-to-GF-Value ratio of 0.92, indicating that the stock is Fairly Valued.

Fifth Third Bancorp EVP Kristine Garrett Sells 7,500 Shares
Fifth Third Bancorp EVP Kristine Garrett Sells 7,500 Shares

The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on 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. The recent sale by Kristine Garrett may attract attention from the market as stakeholders evaluate the implications of such insider transactions.

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.

This article first appeared on GuruFocus.