Company authorizes buyback of up to 2,697,000 common stock
- Community Bank System’s board approves annual stock repurchase plan
- Up to 2,697,000 common stock to be repurchased
- New authorization replaces existing program
- Company has purchased 607,161 shares year to date
- Market cap of $2.81 billion
- Stock closed trading Friday at $53.09
Community Bank System’s board has approved an annual stock repurchase program authorizing the buyback of up to 2,697,000 of common stock during the 12 months starting Jan. 1, 2024. The new authorization replaces the existing program, which expires at the end of this year. The company has purchased 607,161 shares year to date. Community Bank System has a market cap of $2.81 billion, 53.39 million shares outstanding and a public float of 52.67 million shares. The stock closed trading Friday at $53.09, up by less than 1%.
Public Companies: Community Bank System (N/A)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides factual information about Community Bank System’s board approving a stock repurchase program, the number of shares authorized for buyback, the expiration of the existing program, the number of shares purchased year to date, the market cap, the number of shares outstanding, the public float, and the closing stock price. The information is specific and verifiable.
Noise Level: 8
Justification: The article provides basic information about Community Bank System’s stock repurchase program, but it lacks any analysis, insights, or evidence to support its claims. It is a straightforward report without any depth or context.
Financial Relevance: Yes
Financial Markets Impacted: Community Bank System
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article pertains to a financial company, Community Bank System, and its board’s approval of an annual stock repurchase program.
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