Preferred Bank Has Received Regulatory Approval To Continue Its Shareholder-Approved $150M Stock Repurchase Plan; This Approval To Repurchase The Remaining $77.5M Of Common Stock Will Expire In February Of 2025
Portfolio Pulse from Benzinga Newsdesk
Preferred Bank has received regulatory approval to continue its $150 million stock repurchase plan, with $77.5 million remaining to be repurchased by February 2025.
August 30, 2024 | 8:05 pm
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Preferred Bank has received regulatory approval to continue its $150 million stock repurchase plan, with $77.5 million remaining to be repurchased by February 2025.
The continuation of the stock repurchase plan is likely to positively impact PFBC's stock price in the short term as buybacks can increase demand for shares and signal management's confidence in the company's value. The regulatory approval ensures the plan can proceed, which is a positive development for investors.
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