Customers Bancorp Announces Common Stock Repurchase Plan Of Up To 497,509 Shares Of Its Outstanding Common Stock Over A 1-Year Period
Portfolio Pulse from Benzinga Newsdesk
Customers Bancorp, Inc. (NYSE:CUBI) has announced a new common stock repurchase plan, allowing the company to buy back up to 497,509 shares of its outstanding common stock over the next year. This follows the expiration of a previous repurchase plan.
July 01, 2024 | 12:31 pm
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Customers Bancorp has authorized a new stock repurchase plan for up to 497,509 shares over the next year. This move could positively impact the stock price by reducing the number of shares outstanding and signaling confidence in the company's future.
Stock repurchase plans generally indicate that a company believes its shares are undervalued, which can lead to a positive market reaction. By reducing the number of shares outstanding, earnings per share (EPS) can increase, potentially driving up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100