First BankCorp Announces $225M Buyback Program
Portfolio Pulse from Benzinga Newsdesk
First BankCorp has announced a $225 million buyback program. This move is expected to return value to shareholders and potentially boost the company's stock price.
July 24, 2023 | 12:04 pm
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First BankCorp's announcement of a $225 million buyback program is expected to return value to shareholders and could potentially boost the company's stock price.
Buyback programs are generally seen as a positive signal by the market as they indicate that the company believes its stock is undervalued. This can lead to an increase in the stock price. Furthermore, by reducing the number of shares outstanding, earnings per share may increase, which can further boost the stock price.
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