Cadence Bank Announces 2024 Share Repurchase Program Allowing Company To Purchase Up To An Aggregate Of 10M Shares Effective Jan. 2, 2024 And Will Expire On Dec. 31, 2024
Portfolio Pulse from Benzinga Newsdesk
Cadence Bank has announced a new share repurchase program set to commence on January 2, 2024, and expire on December 31, 2024. The program authorizes the repurchase of up to 10 million shares of the company's stock.
December 13, 2023 | 9:31 pm
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POSITIVE IMPACT
Cadence Bank's new share repurchase program may lead to a positive sentiment among investors, potentially increasing the stock's value in the short term.
Share repurchase programs are typically viewed positively by the market as they can indicate that a company believes its stock is undervalued and that it is confident in its financial position. The repurchase of shares can also improve earnings per share (EPS) by reducing the number of shares outstanding, which may lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100