CFSB Bancorp, Inc. Announces Adoption Of Repurchase Program Of Up To 152,287 Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
CFSB Bancorp, Inc. (NASDAQ:CFSB), the holding company for Colonial Federal Savings Bank, has announced its first stock repurchase program since its reorganization in January 2022. The program aims to repurchase up to 152,287 shares, approximately 5% of its outstanding common stock. The repurchases are expected to start after the release of the Q1 2024 financial results and will depend on various factors including market conditions and the company's financial performance.
April 05, 2024 | 8:16 pm
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CFSB Bancorp, Inc. plans to repurchase up to 152,287 shares, about 5% of its outstanding stock, marking its first buyback program since its 2022 reorganization.
Stock repurchase programs often signal a company's confidence in its financial health and future prospects, potentially leading to a positive investor sentiment and an increase in stock price in the short term. Given that this is CFSB's first repurchase program following its reorganization, it underscores a significant strategic move that could enhance shareholder value.
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