Red River Bancshares Announces $5M Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
Red River Bancshares has announced a new share buyback program, under which the company may repurchase up to $5 million of its outstanding common stock. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, and market conditions.
December 14, 2023 | 10:03 pm
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Red River Bancshares has initiated a share buyback program to repurchase up to $5 million of its common stock, which may positively impact the stock price in the short term.
Share buyback programs often lead to a positive short term impact on the stock price as they can indicate management's belief that the stock is undervalued. Additionally, buybacks reduce the number of shares outstanding, potentially increasing earnings per share and the stock's market value. Given that RRBI has announced a specific $5 million buyback plan, this shows a clear intent to support the stock price, which is likely to be taken positively by the market.
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