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Banc of California Announces $150 Million Stock Repurchase Program

1. Banc of California authorized a $150 million stock repurchase program. 2. The repurchase authorization is valid until March 2026.

Shares Buyback
+0.61%Current Return
VS
-0.39%S&P 500
$13.9603/17 06:15 AM EDTEvent Start
$14.04503/18 01:00 PM EDTLatest Updated
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FAQ

Why Bullish?

Stock repurchase programs typically signal confidence in the company's value. Historical examples indicate such actions often lead to positive stock price movements.

How important is it?

The stock buyback indicates management's confidence, likely driving investor interest. Such programs can positively affect BANC's price as shares become less available.

Why Short Term?

Stock buybacks can influence prices rapidly by reducing share supply. Immediate reactions are often seen as markets adjust to perceived company value increases.

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CFRZIONPACW
LOS ANGELES--(BUSINESS WIRE)--Banc of California, Inc. (NYSE: BANC), the parent company of wholly owned subsidiary Banc of California, today announced that its Board of Directors has authorized the repurchase of up to $150 million of the company's common stock. The repurchase authorization expires in March 2026. Purchases may be made in open-market transactions, in block transactions on or off an exchange, in privately negotiated transactions or by other means as determined by the company's man.

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