First US Bancshares, Inc. Announces Extension Of Share Repurchase Program; Repurchase Program, Which Was Previously Set To Expire On December 31, 2023, Has Been Extended To Expire On December 31, 2024
Portfolio Pulse from Benzinga Newsdesk
First US Bancshares, Inc. (NASDAQ:FUSB) has announced the extension of its share repurchase program, previously set to expire on December 31, 2023, to December 31, 2024. The company has already repurchased 1,045,972 shares and has 596,813 shares remaining for repurchase. The repurchases may occur through open market transactions, privately negotiated transactions, or other methods, and may be executed through pre-arranged plans in compliance with SEC rules.
November 15, 2023 | 7:06 pm
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First US Bancshares, Inc. has extended its share repurchase program until December 31, 2024, signaling continued commitment to returning value to shareholders. With a significant number of shares still available for repurchase, this could indicate management's confidence in the company's valuation.
The extension of the share repurchase program is typically viewed positively by the market as it often reflects the management's belief that the stock is undervalued. This can lead to increased investor confidence and potentially a short-term increase in the stock price. However, the impact may be moderated by market conditions and other factors.
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