TBC Bank Group (LON:TBCG) Stock Price 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.

TBC Bank Group PLC (LON:TBCG - Get Free Report) fell 2.2% during mid-day trading on Tuesday . The stock traded as low as GBX 4,435 ($60.11) and last traded at GBX 4,450.01 ($60.31). 74,937 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 222,141 shares. The stock had previously closed at GBX 4,550 ($61.67).

TBC Bank Group Price Performance

The firm's 50 day moving average price is GBX 4,650.01 and its 200-day moving average price is GBX 4,496.85. The stock has a market cap of £2.48 billion, a P/E ratio of 188.37, a P/E/G ratio of 0.80 and a beta of 1.07.

TBC Bank Group announced that its board has approved a stock repurchase plan on Friday, August 8th that allows the company 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 usually a sign that the company's board of directors believes its stock is undervalued.

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.