Sierra Bancorp Board Approved a Buyback Plan of up to 1M Shares
Portfolio Pulse from Benzinga Newsdesk
Sierra Bancorp (NASDAQ:BSRR) has announced that its Board of Directors has approved a new share repurchase program. The company is authorized to repurchase up to one million shares of its outstanding common stock, commencing after the current share repurchase program expires on October 31, 2023, and continuing until October 31, 2024.
October 20, 2023 | 12:04 pm
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Sierra Bancorp's new share repurchase program could potentially increase the stock's value as it reduces the number of shares in circulation.
Share repurchase programs are generally seen as a positive signal by the market, as they reduce the number of shares in circulation, potentially increasing the value of remaining shares. However, the impact will not be immediate as the program will start only after the current one ends in October 2023.
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