Fifth Third (FITB) Gains on New Buyback Deal, Offers Q2 Update

Shares of Fifth Third Bancorp (FITB) gained 3% in the after-market trading as it announced a new share repurchase agreement with Morgan Stanley & Co. LLC (MS) . Under this, the company will buy back nearly $125 million of its outstanding common stock. The buyback is part of a 100 million share repurchase program that was announced in June 2019. Second-Quarter Revenue Guidance Trimmed The company reiterated average loans & leases to be stable for the second quarter of 2024. The net charge-off ratio is projec ...