Bogota Financial Corp. Adopts And Receives Regulatory Approval For The Repurchase Of Up To 237,090 Shares Of Its Common Stock, Which Is ~5% Of Its Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Bogota Financial Corp. (BSBK), the holding company for Bogota Savings Bank, has received regulatory approval to repurchase up to 237,090 shares of its common stock, approximately 5% of its outstanding shares. This marks the company's fifth stock repurchase program, with no set expiration date. The repurchase may occur in open market or private transactions, and the exact number of shares to be repurchased is not guaranteed, depending on market conditions and the company's financial performance.
April 24, 2024 | 1:17 pm
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Bogota Financial Corp. has regulatory approval to buy back up to 5% of its shares, indicating a potential increase in shareholder value.
Stock repurchase programs often lead to an increase in the stock price as they can indicate the company's confidence in its own financial health and future. By reducing the number of shares available, the earnings per share (EPS) may increase, potentially making the stock more attractive to investors. However, the actual impact will depend on the execution of the buyback program and market conditions.
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