Summary
Fifth Third Bancorp (FITB) announced the completion of a significant accelerated share repurchase (ASR) transaction initiated on January 22, 2025. Under this agreement with Royal Bank of Canada (RBC), Fifth Third repurchased a total of 5,242,382 shares of its common stock for approximately $225 million, at an average price of $42.9194 per share. This repurchase activity is part of the company's broader 100 million share repurchase program, first announced in June 2019.
Key Highlights
- 1Fifth Third Bancorp completed an accelerated share repurchase (ASR) transaction valued at approximately $225 million.
- 2A total of 5,242,382 shares of common stock were repurchased.
- 3The average repurchase price per share was $42.9194.
- 4The ASR transaction was executed with Royal Bank of Canada (RBC).
- 5The repurchases were made under Fifth Third's existing 100 million share repurchase program announced in June 2019.
- 6Following this transaction, approximately 11.8 million shares remain authorized for repurchase under the program.
Frequently Asked Questions
Fifth Third Bancorp repurchased approximately $225 million worth of its common stock through this accelerated share repurchase transaction.
A total of 5,242,382 shares were repurchased at an average price of $42.9194 per share.
No, these repurchases were conducted under Fifth Third's previously announced 100 million share repurchase program initiated in June 2019.
After the completion of this accelerated share repurchase, Fifth Third Bancorp has approximately 11.8 million shares of repurchase authority remaining under its existing program.