WSBF - Waterstone Financial board authorizes new 2M-share buyback program

2023-05-24 16:20:43 ET

• Waterstone Financial ( NASDAQ: WSBF ) stock gained 2.0% in Wednesday after-hours trading after the company's board authorized a program to buy back as many as 2M shares, representing ~9.3% of its issued and outstanding shares of common stock.
• The board terminated the previous repurchase program, under which the holding company of WaterStone Bank repurchased 3.5M of its common shares at a weighted average price of $17.25 per share.
• The stock buybacks may occur through open-market repurchases, block trades, negotiated private transactions and pursuant to a trading plan that will be adopted under Rule 10b5-1.
• The repurchase program may be suspeended, terminated or modified at any time. Neither is Waterstone ( WSBF ) obligated to repurchase any particular number of shares.
• In April, Waterstone ( WSBF ) Q1 EPS and revenue both beat consensus estimates.

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