Share Buyback Plan Announced by TBC Bank Group (LON:TBCG) Board of Directors

Key Points

• TBC Bank Group has authorized a stock buyback program, intending to repurchase 0 shares, which signals the Board's belief that shares may be undervalued.
• The company's stock traded down to GBX 4,720 ($63.48), with a significant trading volume of 307,406 shares during that session.
• TBC Bank Group has a market capitalization of £2.68 billion and a P/E ratio of 2.15, indicating potential growth opportunities in the financial sector in Georgia.

TBC Bank Group (LON:TBCG - Get Free Report) announced that its Board of Directors has initiated a stock repurchase plan on Friday, August 8th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

TBC Bank Group Stock Performance

Shares of TBCG traded down GBX 44.21 ($0.60) during mid-day trading on Wednesday, reaching GBX 4,765.79 ($64.34). The stock had a trading volume of 68,857 shares, compared to its average volume of 216,758. The firm has a market cap of £2.71 billion, a price-to-earnings ratio of 2.17, a PEG ratio of 0.80 and a beta of 1.07. TBC Bank Group has a 12 month low of GBX 2,450 ($33.08) and a 12 month high of GBX 5,070 ($68.45). The business has a fifty day moving average of GBX 4,700.03 and a 200 day moving average of GBX 4,374.53.

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.