Civista Bancshares, Inc. Announces Share Repurchase Program, From Time To Time, Up To An Aggregate $13.5M Of Its Outstanding Common Shares
Portfolio Pulse from Benzinga Newsdesk
Civista Bancshares, Inc. (NASDAQ:CIVB) has announced a new share repurchase program, authorizing the repurchase of up to $13.5 million of its outstanding common shares, replacing the previous program set to expire in April 2024. This move is part of Civista's strategy to grow its franchise and deliver value to shareholders, with repurchases depending on stock performance, capital planning, market conditions, and legal requirements, continuing until April 15, 2025.
April 18, 2024 | 8:21 pm
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Civista Bancshares, Inc. initiates a new share repurchase program, targeting up to $13.5 million of its common shares, aiming to enhance shareholder value and support stock price.
Share repurchase programs often signal a company's confidence in its own financial health and prospects, potentially leading to a positive short-term impact on the stock price. By reducing the number of shares outstanding, such programs can increase earnings per share and, consequently, the stock's attractiveness to investors. However, the actual impact will depend on the execution of the program and market conditions.
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