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Fifth Third Bancorp (FITB) Surges 5.1%: Is This an Indication of Further Gains?

March 21, 2023

Via: Yahoo

Fifth Third Bancorp (FITB) shares rallied 5.1% in the last trading session to close at $26.21. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 32.5% loss over the past four weeks.

After the stock market fallout due to the collapse of two S&P 500 banks, investors regained some confidence in the finance sector, backed by the steps taken by the regulators to avert a full-blown crisis. This, along with gradually cooling inflation and less chance of a bigger rate hike, reinforced investor optimism. These developments drove the FITB stock.

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