NSTS Bancorp Board Approved New Stock Repurchase Program For Up To An Aggregate Of 265,763 Shares
Portfolio Pulse from Benzinga Newsdesk
NSTS Bancorp's Board has approved a new stock repurchase program to buy back up to 265,763 shares, representing about 5% of its outstanding common stock. The program is set to run until December 31, 2024, unless terminated earlier.
December 21, 2023 | 10:30 pm
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NSTS Bancorp has initiated a stock repurchase program for up to 265,763 shares, which is approximately 5% of its outstanding shares, valid until the end of 2024.
Stock 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 stability. By reducing the number of shares outstanding, EPS and other financial ratios may improve, potentially leading to a short-term increase in stock price.
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