Clifton Bancorp (CSBK) Approves Additional 5% Stock Buyback
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Clifton Bancorp Inc., (Nasdaq: CSBK), the holding company for Clifton Savings Bank, announced that it has expanded its stock repurchase program by authorizing the purchase of an additional 1,155,000 shares, representing 5% of the Company’s outstanding shares of common stock. Together with the 413,000 shares remaining to be repurchased under the prior repurchase authorization, the Company is authorized to repurchase a total of 1,568,000 shares. Through September 7, 2016, the Company has repurchased approximately 4,887,000 shares at a weighted average share price of $14.19 per share. Repurchases will be conducted through open market purchases, which may include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time depending on market conditions and other factors.
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