Fifth Third Bancorp has repurchased nearly 11.3 million shares of its stock from Morgan Stanley.
The $131 billion-asset Cincinnati company disclosed in a regulatory filing Tuesday that it paid more than $225 million for the shares, or an average price of roughly $20 a share.
An initial block of about 9.4 million shares changed hands on July 21, when the two financial institutions agreed to the repurchases. Fifth Third bought back roughly 1.9 million additional shares on Oct. 9.
Fifth Third authorized the repurchase of 100 million shares of stock in mid-March.
