William Penn Bancorporation Announces Company's Board Of Directors Has Authorized A New Stock Repurchase Program To Acquire Up To 1,138,470 Shares, Or ~10%, Of The Company's Currently Issued And Outstanding Common Stock
Portfolio Pulse from Happy Mohamed
William Penn Bancorporation (NASDAQ CM:WMPN) has announced a new stock repurchase program to acquire up to 1,138,470 shares, or approximately 10% of the company's currently issued and outstanding common stock. The new program was authorized following the completion of the company's previous stock repurchase program on August 28, 2023. The repurchases will be conducted through open market purchases or privately negotiated transactions, depending on market conditions and other factors.
August 29, 2023 | 11:58 am
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William Penn Bancorporation's new stock repurchase program could potentially increase the stock's price in the short term as it reduces the number of shares available in the market.
Stock repurchase programs are typically seen as a positive signal by the market as they reduce the number of shares available in the market, potentially increasing the stock's price. However, the actual impact will depend on various factors including market conditions and the company's financial performance.
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