TBC Bank Group (LON:TBCG) Board of Directors Initiates Stock Repurchase Plan

Key Points

• TBC Bank Group's Board of Directors has initiated a share buyback plan, indicating that they believe the company's shares are currently undervalued.
• The bank's stock price decreased to GBX 4,500 ($60.79) amidst trading, with a market capitalization of £2.56 billion and a significantly low price-to-earnings ratio of 2.05.
• TBC Bank Group operates primarily in the financial sector in Georgia and is a leading universal banking group in the region.

TBC Bank Group (LON:TBCG - ) announced that its board has approved a share buyback plan on Monday, August 18th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

TBC Bank Group Price Performance

Shares of TBC Bank Group stock traded down GBX 63.60 ($0.86) during trading on Monday, reaching GBX 4,500 ($60.79). 85,320 shares of the stock traded hands, compared to its average volume of 214,336. The company has a market capitalization of £2.56 billion, a price-to-earnings ratio of 2.05, a P/E/G ratio of 0.80 and a beta of 1.07. The business has a fifty day simple moving average of GBX 4,710.58 and a two-hundred day simple moving average of GBX 4,419.33. TBC Bank Group has a 52-week low of GBX 2,450 ($33.09) and a 52-week high of GBX 5,070 ($68.49).

TBC Bank Group Company Profile

TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector. TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia.

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