Pioneer Bancorp Adopts Stock Repurchase Program For Up To ~5% Of Its Outstanding Common Stock, Or 1.298M Shares
Portfolio Pulse from Benzinga Newsdesk
Pioneer Bancorp has announced a stock repurchase program for up to approximately 5% of its outstanding common stock, which equates to 1.298 million shares. This marks the company's first stock repurchase program since completing its mutual holding company reorganization and related stock offering.
May 21, 2024 | 8:51 pm
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Pioneer Bancorp has initiated a stock repurchase program for up to 5% of its outstanding common stock, or 1.298 million shares. This is the first such program since the company's mutual holding company reorganization and related stock offering.
Stock repurchase programs typically signal management's confidence in the company's future prospects and can lead to a short-term increase in stock price due to the reduction in the number of shares outstanding, which can improve earnings per share (EPS).
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