William Penn Bancorporation Announces Stock Repurchase Program To Acquire Up To 1,046,610 Shares, Or ~10%, Of The Company's Currently Issued And Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
William Penn Bancorporation (NASDAQ:WMPN) has announced a new stock repurchase program to acquire up to 1,046,610 shares, or approximately 10% of the company's currently issued and outstanding common stock. The program will commence upon the completion of the company's existing stock repurchase program. The company has previously completed six stock repurchase programs.
October 18, 2023 | 8:36 pm
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POSITIVE IMPACT
William Penn Bancorporation's new stock repurchase program could potentially increase the stock's price as it reduces the number of shares in circulation, thereby increasing earnings per share.
Stock repurchase programs are typically seen as a positive signal by the market as they reduce the number of shares in circulation, which can increase earnings per share and potentially boost 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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