Bank of N.T. Butterfield & Son Limited Announces Share Repurchase Program; Authorized To Purchase Up To 3.5M Of Its Ordinary Shares Through Dec. 31 2024
Portfolio Pulse from Benzinga Newsdesk
Bank of N.T. Butterfield & Son Limited (NTB) has announced a share repurchase program, authorizing the purchase of up to 3.5 million of its ordinary shares through December 31, 2024.
December 05, 2023 | 9:32 pm
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NTB has announced a new share repurchase program, signaling confidence in the company's value and potentially leading to an increase in the stock price due to the reduced share supply.
Share repurchase programs often lead to a positive market reaction as they can indicate that the company believes its stock is undervalued. The reduction in the number of shares outstanding can also improve earnings per share (EPS) metrics, making the stock more attractive to investors. However, the actual impact will depend on the execution of the buyback and market conditions.
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IMPORTANCE 75
RELEVANCE 100