Bar Harbor Bankshares (BHB)'s Board of Directors has authorized the repurchase of up to 756,000 shares
Bar Harbor Bankshares (BHB), a financial institution, has recently made an announcement regarding its intention to repurchase a portion of its outstanding common stock. The company's Board of Directors has authorized the repurchase of up to 756,000 shares, which represents approximately 5% of its shares as of April 30, 2023.
Under the newly authorized share repurchase plan, Bar Harbor Bankshares will have a maximum duration of 12 months to execute the buybacks. The company has the flexibility to acquire the shares through various methods, including open market transactions, block trades, and private negotiated agreements. The decision on the timing and quantity of repurchases will be influenced by multiple factors, such as securities law restrictions, the trading price of the company's common stock, regulatory requirements, capital allocation opportunities, and the financial performance of Bar Harbor Bankshares.
Members of LevelFields received the alert of this event on May 22, 5:50 PM ET
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