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TBC Bank Group (LON:TBCG) Shares Down 12.6% - Here's Why

TBC Bank Group logo with Financial Services background

Key Points

  • TBC Bank Group's shares plummeted by 12.6% on Friday, closing at GBX 4,430 ($59.58) after trading as low as GBX 4,218.06 ($56.72).
  • The average daily trading volume decreased significantly, with approximately 127,991 shares traded, marking a decline of 41% from the usual volume of 217,861 shares.
  • TBC Bank Group has a market capitalization of £2.71 billion and a PE ratio of 2.17, indicating its current valuation metrics.
  • Need better tools to track TBC Bank Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

TBC Bank Group PLC (LON:TBCG - Get Free Report)'s share price traded down 12.6% on Friday . The stock traded as low as GBX 4,218.06 ($56.66) and last traded at GBX 4,430 ($59.50). 127,991 shares traded hands during trading, a decline of 41% from the average session volume of 217,861 shares. The stock had previously closed at GBX 5,070 ($68.10).

TBC Bank Group Stock Performance

The firm has a 50 day simple moving average of GBX 4,692.28 and a two-hundred day simple moving average of GBX 4,371.43. The stock has a market cap of £2.74 billion, a P/E ratio of 2.19, a P/E/G ratio of 0.80 and a beta of 1.07.

TBC Bank Group declared that its Board of Directors has initiated a share buyback program on Friday, August 8th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

About TBC Bank Group

(Get Free Report)

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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