Sierra Bancorp reported that it repurchased a total of 659,146 shares year-to-date in 2024. This activity was part of an ongoing share repurchase plan.
The company's current share repurchase plan is set to expire on October 31, 2025. Share repurchases are a method for companies to return capital to shareholders.
This action demonstrates the company's commitment to managing its capital structure and potentially enhancing shareholder value. The reduction in outstanding shares can lead to an increase in earnings per share.
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