Banner Corporation Announces Stock Repurchase Program
Banner (NASDAQ: BANR), the parent company of Banner Bank, has announced a stock repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to 1,722,787 shares, representing approximately 5% of the company's issued and outstanding common stock. CEO Mark J. Grescovich stated that the company views its stock as an attractive investment, and the repurchase program is aimed at building long-term shareholder value. The repurchases will be conducted through open market purchases, with the extent and timing dependent on market conditions and other corporate considerations.
Banner (NASDAQ: BANR), la società madre di Banner Bank, ha annunciato un programma di riacquisto di azioni autorizzato dal suo Consiglio di Amministrazione. Il programma prevede il riacquisto di fino a 1.722.787 azioni, che rappresentano circa il 5% delle azioni ordinarie emesse e in circolazione della società. Il CEO Mark J. Grescovich ha dichiarato che l'azienda considera le proprie azioni come un investimento interessante, e il programma di riacquisto è volto a costruire valore per gli azionisti a lungo termine. I riacquisti saranno effettuati attraverso acquisti nel mercato aperto, con l'estensione e il timing che dipenderanno dalle condizioni di mercato e da altre considerazioni aziendali.
Banner (NASDAQ: BANR), la empresa matriz de Banner Bank, ha anunciado un programa de recompra de acciones autorizado por su Junta Directiva. El programa permite la recompra de hasta 1.722.787 acciones, lo que representa aproximadamente el 5% de las acciones ordinarias emitidas y en circulación de la empresa. El CEO Mark J. Grescovich declaró que la empresa considera sus acciones como una inversión atractiva y que el programa de recompra tiene como objetivo crear valor para los accionistas a largo plazo. Las recompras se llevarán a cabo a través de compras en el mercado abierto, con la extensión y el momento dependientes de las condiciones del mercado y otras consideraciones corporativas.
배너(Banner) (NASDAQ: BANR), 배너 뱅크(Banner Bank)의 모회사, 이사회에서 승인된 주식 매입 프로그램을 발표했습니다. 이 프로그램은 최대 1,722,787주를 매입할 수 있으며, 이는 약 5%에 해당합니다. 회사의 발행된 보통주의 총 수입니다. CEO인 마크 J. 그레스코비치(Mark J. Grescovich)는 회사가 자사 주식을 매력적인 투자로 보고 있으며, 매입 프로그램은 장기적인 주주 가치를 구축하는 것을 목표로 하고 있다고 밝혔습니다. 매입은 유동시장 구매를 통해 진행될 예정이며, 범위와 시기는 시장 상황 및 기타 기업적 고려사항에 따라 달라질 것입니다.
Banner (NASDAQ: BANR), la société mère de Banner Bank, a annoncé un programme de rachat d'actions autorisé par son Conseil d'Administration. Ce programme permet le rachat de jusqu'à 1.722.787 actions, ce qui représente environ 5% des actions ordinaires émises et en circulation de l'entreprise. Le PDG Mark J. Grescovich a déclaré que la société considère ses actions comme un investissement attrayant et que le programme de rachat vise à créer de la valeur pour les actionnaires à long terme. Les rachats se feront par le biais de rachats sur le marché ouvert, l'ampleur et le calendrier dépendant des conditions du marché et d'autres considérations d'entreprise.
Banner (NASDAQ: BANR), das Mutterunternehmen der Banner Bank, hat ein Aktienrückkaufprogramm bekannt gegeben, das von seinem Vorstand genehmigt wurde. Das Programm ermöglicht den Rückkauf von bis zu 1.722.787 Aktien, was etwa 5% der ausgegebenen und im Umlauf befindlichen Stammaktien des Unternehmens entspricht. CEO Mark J. Grescovich erklärte, dass das Unternehmen seine Aktien als attraktive Investition betrachtet und das Rückkaufprogramm darauf abzielt, langfristigen Shareholder-Wert aufzubauen. Die Rückkäufe erfolgen über offene Marktkäufe, wobei das Ausmaß und der Zeitpunkt von den Marktbedingungen und anderen Unternehmensüberlegungen abhängen.
- Authorization to repurchase 5% of outstanding shares
- Potential increase in shareholder value
- Demonstrates management's confidence in the company's stock
- Potential reduction in cash reserves
- May limit funds available for other investments or growth opportunities
Insights
Banner 's announcement of a stock repurchase program for up to 1,722,787 shares, or approximately
Stock buybacks can have several implications:
- They reduce the number of outstanding shares, potentially increasing earnings per share (EPS) and boosting stock prices.
- They can be seen as an efficient way to return capital to shareholders, especially if the company believes its stock is undervalued.
- However, they may also indicate that the company sees growth opportunities for reinvesting cash into the business.
The open market purchase approach provides flexibility in timing and volume, allowing Banner to adjust based on market conditions. This strategy could help mitigate price volatility and potentially secure better prices for the company.
Investors should monitor the execution of this program and its impact on Banner's financial metrics, particularly EPS and return on equity. It's also important to assess whether this capital allocation decision aligns with the bank's long-term growth strategy and capital requirements in the current economic environment.
Banner 's stock repurchase program announcement comes at an interesting time in the banking sector. With recent volatility in regional banks, this move could be interpreted as a signal of financial stability and management's optimism about the company's valuation.
Key points to consider:
- The timing suggests confidence in Banner's liquidity position, which is important given recent concerns about bank stability.
- This program may help support the stock price, potentially reducing volatility in a sector that has seen significant fluctuations.
- Investors might view this as a positive sign, distinguishing Banner from peers facing more significant challenges.
However, it's essential to contextualize this decision within the broader banking landscape. Investors should compare Banner's capital allocation strategy with those of its peers and consider how it aligns with industry trends and regulatory expectations.
The success of this program will largely depend on its execution and the market's reception. Monitoring trading volumes and price movements following repurchases could provide insights into the program's effectiveness and market sentiment towards Banner
“We believe our stock offers an attractive investment and repurchasing stock is a means for building long-term shareholder value,” said Mark J. Grescovich, President and Chief Executive Officer. Under the repurchase program, shares may be repurchased by the Company in open market purchases. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations.
About the Company
Banner Corporation is a
Forward-Looking Statements
This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our risk factors contained in Banner Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Such forward-looking statements speak only as of the date of this release. Banner Corporation expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company’s expectations of results or any change in events.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240725795175/en/
MARK J. GRESCOVICH, PRESIDENT & CEO
ROBERT G. BUTTERFIELD, CFO
(509) 527-3636
Source: Banner Corporation
FAQ
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