Alerus Financial Announced That Its Board Of Directors Approved A New Stock Repurchase Program; Authorized To Repurchase Up To 1M Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Alerus Financial's Board of Directors has approved a new stock repurchase program, authorizing the repurchase of up to 1 million shares of its common stock. This program will start on February 18, 2024, and will replace the existing repurchase program from February 22, 2021, expiring on February 18, 2027.
December 14, 2023 | 8:36 pm
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Alerus Financial has initiated a new stock repurchase program to buy back up to 1 million shares, effective from February 18, 2024, superseding the previous program.
Stock repurchase programs are typically viewed positively by the market as they can indicate a company's confidence in its own financial health and often lead to a reduction in the number of shares outstanding, potentially increasing earnings per share. Given that the program is set to start in the future, the immediate impact may be moderate but positive sentiment is likely.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100