TBC Bank Group (LON:TBCG) Shares Down 2.2% - Time to Sell?

Key Points

• TBC Bank Group PLC shares fell by 2.2%, closing at GBX 4,450.01 ($60.74), with trading volume down by 66% compared to the average.
• The company, with a market cap of £2.47 billion, has recently announced a share repurchase program, indicating management's belief that the stock is currently undervalued.
• TBC Bank Group operates primarily in Georgia and is recognized as a leading universal banking group in the region.

Shares of TBC Bank Group PLC (LON:TBCG - Get Free Report) dropped 2.2% during trading on Tuesday . The company traded as low as GBX 4,435 ($59.75) and last traded at GBX 4,450.01 ($59.96). Approximately 74,937 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 222,141 shares. The stock had previously closed at GBX 4,550 ($61.30).

TBC Bank Group Stock Down 2.1%

The firm has a market cap of £2.48 billion, a price-to-earnings ratio of 188.37, a P/E/G ratio of 0.80 and a beta of 1.07. The stock has a 50 day moving average of GBX 4,642.35 and a 200 day moving average of GBX 4,498.99.

TBC Bank Group declared that its board has approved a share buyback plan on Friday, August 8th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

About TBC Bank Group

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.