Share Buyback Program Announced by PB Bancorp (PBBI) Board
PB Bancorp (NASDAQ:PBBI) declared that its board has authorized a share repurchase program, which allows the company to buyback 390,000 outstanding shares on Thursday, January 19th, EventVestor reports. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
PB Bancorp (PBBI) remained flat at $10.30 during trading on Thursday. The stock had a trading volume of 700 shares. The firm has a 50 day moving average price of $10.41 and a 200 day moving average price of $10.40. PB Bancorp has a one year low of $8.45 and a one year high of $10.85. The stock has a market cap of $76.33 million, a price-to-earnings ratio of 41.20 and a beta of 0.31.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, July 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.55%. PB Bancorp’s dividend payout ratio is currently 61.54%.
About PB Bancorp
PB Bancorp Inc is a bank holding company. The company was founded in September 2015 and is located in Putnam, Connecticut.
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