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Fifth Third completes buyback agreement with Morgan Stanley unit

Fifth Third Bancorp has completed its share repurchase agreement with Morgan Stanley & Co. LLC.

On Feb. 8, the Cincinnati-based company entered into a buyback agreement with the Morgan Stanley unit, in which Fifth Third was to repurchase approximately $318 million of its outstanding common stock.

A total of 9,707,049 shares were repurchased at an average price of $33.3040 per share upon completion of the agreement.

Fifth Third has about 12.6 million shares of remaining repurchase authority under the company's 100 million share repurchase program announced March 2016.