First Financial Bankshares Renews Stock Repurchase Plan To Buy Back Up To 5M Shares, Representing 3.5% Of Outstanding Shares, Through July 31, 2025
Portfolio Pulse from Benzinga Newsdesk
First Financial Bankshares has renewed its stock repurchase plan to buy back up to 5 million shares, representing 3.5% of its outstanding shares, through July 31, 2025.
July 26, 2024 | 6:00 pm
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First Financial Bankshares has renewed its stock repurchase plan to buy back up to 5 million shares, representing 3.5% of its outstanding shares, through July 31, 2025. This move is likely to positively impact the stock price in the short term as buybacks generally reduce the number of shares outstanding, potentially increasing earnings per share.
Stock repurchase plans typically lead to a reduction in the number of shares outstanding, which can increase earnings per share and often leads to a positive short-term impact on the stock price. The renewal of this plan indicates the company's confidence in its financial health and future prospects.
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