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Fifth Third details share buyback activity

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Fifth Third details share buyback activity

A total of 35,831,650 shares at an average price of $28.0312 each would have been repurchased upon execution of Fifth Third Bancorp's $990 million buyback agreement with Goldman Sachs & Co., a unit of Goldman Sachs Group Inc.

Some 31,540,480 shares were repurchased as of Dec. 14. A further 4,291,170 shares will have been repurchased when the agreement is completed Dec. 18.

Upon completion, Fifth Third will have approximately 30.9 million shares of remaining repurchase authority under the share buyback program.

Fifth Third also entered into a share repurchase agreement with Morgan Stanley & Co. LLC.

Under the agreement, Fifth Third will pay $273 million to Morgan Stanley on Dec. 19, at which time it would receive a substantial majority of the shares by that date. Fifth Third expects to settle the transaction on or before March 19, 2018.