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Fifth Third Bancorp finishes common stock buyback

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Fifth Third Bancorp finishes common stock buyback

Morgan Stanley & Co. LLC closed the purchase of certain shares of Fifth Third Bancorp pursuant to an accelerated share repurchase agreement between the parties, the latter said in a regulatory filing.

The Cincinnati, Ohio-based bank intended to purchase approximately $235 million of its outstanding common stock.

Morgan Stanley said a total of 7,574,366 shares were repurchased at an average price of $ 31.1817 per share.

Following the the completion of the agreement, Fifth Third will have approximately 92.4 million shares of remaining repurchase authorization under the February repurchase program.