Investar Holding Board Authorizes Repurchase Of An Additional 350,000 Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Investar Holding's board has authorized the repurchase of an additional 350,000 shares of common stock. This is in addition to the 248,439 shares remaining under the current repurchase program. The additional shares represent approximately 4% of the company's outstanding common stock.
July 19, 2023 | 10:07 pm
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Investar Holding's board has authorized a significant stock buyback, which could potentially increase the stock's price in the short term.
Stock buybacks often lead to an increase in the stock's price as they reduce the number of shares in circulation, thereby increasing earnings per share. This news is highly relevant to Investar Holding as it directly pertains to their equity actions. The importance is high as it could significantly impact the stock's price. The confidence in this analysis is high based on the typical impact of stock buybacks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100