TBC Bank Group (LON:TBCG) to Repurchase 0 Outstanding Stock

TBC Bank Group (LON:TBCG) announced that its board has authorized a share buyback plan on Monday, August 18th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

TBC Bank Group Price Performance

LON TBCG opened at GBX 4,500 ($60.79) on Tuesday. TBC Bank Group has a 12 month low of GBX 2,450 ($33.09) and a 12 month high of GBX 5,070 ($68.49). The firm has a market capitalization of £2.56 billion, a PE ratio of 2.05, a P/E/G ratio of 0.80 and a beta of 1.07. The company’s 50 day simple moving average is GBX 4,710.58 and its 200 day simple moving average is GBX 4,419.33.

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.