Bank7 Announces Renewal Of Stock Repurchase Plan Of Up To 750,000 Shares
Portfolio Pulse from Benzinga Newsdesk
Bank7 Corp. (NASDAQ:BSVN) has announced a renewal of its existing stock repurchase program for a term of two years. The plan allows for the purchase of up to 750,000 shares of the company's outstanding common stock. The shares may be repurchased in open market transactions, privately negotiated transactions, or by other means in accordance with federal securities laws. Repurchased shares will become treasury shares and may be used for general corporate purposes.
October 30, 2023 | 8:47 pm
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Bank7 Corp.'s renewal of its 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 often seen as a sign of a company's confidence in its own stock, and can lead to a short-term increase in stock price due to the reduced number of shares available in the market. However, the actual impact will depend on various factors including the market price of the stock, general market and economic conditions, and legal requirements.
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