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Fifth Third Bancorp Announces Share Repurchase Authorization

1. Fifth Third Bancorp announces new share repurchase of up to 100 million shares. 2. The new program replaces the previous repurchase authorization from 2019. 3. No expiration date or price targets set for the new repurchase authorization. 4. Future capital distributions depend on market and regulatory conditions. 5. Fifth Third Bank emphasizes innovation and ethical practices in financial services.

Shares Buyback
-0.55%Current Return
VS
-0.87%S&P 500
$38.3206/16 04:31 PM EDTEvent Start
$38.1106/17 11:03 PM EDTLatest Updated
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FAQ

Why Bullish?

Share buybacks generally signal strong financial health; historically, companies like FITB have benefited from similar announcements, leading to stock price upticks. Past scenarios, such as during the 2019 repurchase program, showed positive investor sentiment and price appreciation.

How important is it?

Share repurchase programs can greatly influence investor perception and stock price; the larger the buyback, the more significant the potential impact. Additionally, this reflects confidence in FITB’s financial position, which can attract investors.

Why Short Term?

The immediate reaction to share buybacks usually manifests quickly as investors assess their significance; previous instances show that announcements often lead to increased stock prices in the weeks following the announcement.

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- CINCINNATI--(BUSINESS WIRE)--Today, Fifth Third Bancorp announced that its Board of Directors approved a new share repurchase authorization of up to 100 million shares, which replaces the previous authorization from 2019 under which 11.8 million shares remain. The new repurchase authorization does not have an expiration date, does not include specific price targets, may be executed through open market purchases or one or more private negotiated transactions, including Rule 10b5-1 programs, and may be suspended at any time. All future capital distributions are subject to evaluation of Fifth Third’s performance, the state of the economic environment, market conditions, regulatory factors, and other risks and uncertainties and approval by the Board of Directors at any given time. About Fifth Third Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com. Category: Share Repurchases More News From Fifth Third Bancorp

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