Seacoast Banking Corporation Of Florida Authorized The Renewal Of The Share Repurchase Program, Set To Expire On Dec. 31, 2023, Pursuant To Which The Company May, From Time To Time, Purchase Up To $100M Of Its Shares Of Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Seacoast Banking Corporation of Florida has renewed its share repurchase program, which is set to expire on December 31, 2023. Under this program, the company is authorized to repurchase up to $100 million of its outstanding common stock, as per a recent SEC filing.

December 15, 2023 | 9:05 pm
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Seacoast Banking Corporation of Florida has announced the renewal of its share repurchase program, allowing for the buyback of up to $100 million of its common stock until December 31, 2023.
The renewal of the share repurchase program typically signals a company's confidence in its own stock and is often viewed positively by investors. It can indicate that the company believes its stock is undervalued or that it wants to return value to shareholders, which can lead to a short-term increase in stock price. However, the actual impact will depend on whether the company actively buys back shares and market conditions.
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