Blue Foundry Bancorp Announces Completion of Fourth Stock Repurchase Program and Adoption of Fifth Stock Repurchase Program
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Blue Foundry Bancorp has completed its fourth stock repurchase program and initiated a fifth, aiming to buy back up to 5% of its outstanding shares. This move follows its mutual-to-stock conversion in 2021.
November 12, 2024 | 3:45 pm
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Blue Foundry Bancorp has completed its fourth stock repurchase program and initiated a fifth, aiming to repurchase up to 5% of its outstanding shares. This move is part of its strategy following its conversion to a stock company in 2021.
The completion of a stock repurchase program and the initiation of another typically signals confidence from the company in its own stock, which can lead to a positive short-term impact on the stock price. The repurchase of up to 5% of outstanding shares is a significant move that can reduce supply and potentially increase demand, leading to upward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100