Provident Financial Extends Stock Buyback Plan, Eyes Market Conditions
Portfolio Pulse from Benzinga Newsdesk
Provident Financial Holdings, Inc. has extended its stock buyback plan for another year, allowing the purchase of 99,968 shares. The repurchases will depend on market conditions and the company's capital requirements.
September 27, 2024 | 7:00 am
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Provident Financial Holdings has extended its stock buyback plan, allowing the purchase of 99,968 shares over the next year. This move could support the stock price by reducing supply and signaling confidence in the company's financial health.
The extension of the stock buyback plan indicates that Provident Financial Holdings is confident in its financial position and believes its stock is undervalued. By reducing the number of shares available in the market, the buyback could support the stock price. The decision to extend the plan for a year provides flexibility to repurchase shares based on favorable market conditions.
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