Insider Sell: EVP Kevin Lavender Sells 15,000 Shares of Fifth Third Bancorp (FITB)
Fifth Third Bancorp (NASDAQ:FITB), a diversified financial services company headquartered in Cincinnati, Ohio, 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 the retail, commercial, financial, governmental, educational, and medical sectors.According to a recent SEC filing, Executive Vice President Kevin Lavender of Fifth Third Bancorp (NASDAQ:FITB) sold 15,000 shares of the company on February 26, 2024. The transaction was executed at an average price of $33.45 per share, resulting in a total value of $501,750.Kevin Lavenders trading activity over the past year indicates that the insider has sold a total of 15,000 shares and has not made any purchases of the company's stock.The insider transaction history for Fifth Third Bancorp (NASDAQ:FITB) reveals a pattern of insider activity. Over the past year, there have been 3 insider buys and 2 insider sells, including the recent transaction by Kevin Lavender.
On the valuation front, Fifth Third Bancorp (NASDAQ:FITB) shares were trading at $33.45 on the day of the insider's sale, giving the company a market capitalization of $22.872 billion. The price-earnings ratio of the company stands at 10.39, which is above the industry median of 9.29 but below the company's historical median price-earnings ratio.The stock's price-to-GF-Value ratio is 0.83, with a GF Value of $40.35, indicating that Fifth Third Bancorp (NASDAQ:FITB) is modestly undervalued according to GuruFocus's intrinsic value estimate.
The GF Value is determined by considering historical trading multiples, 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. However, insider transactions are not always indicative of future stock performance and can be influenced by various factors, including personal financial needs and portfolio diversification strategies.
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.
