Shares of TBC Bank Group PLC (LON:TBCG – Get Free Report) traded down 11.9% during trading on Friday . The stock traded as low as GBX 3,750 and last traded at GBX 3,785. 8,443,690 shares traded hands during mid-day trading, an increase of 3,308% from the average session volume of 247,755 shares. The stock had previously closed at GBX 4,295.
TBC Bank Group Stock Up 1.2%
The company’s 50-day simple moving average is GBX 4,359.44 and its 200 day simple moving average is GBX 4,538.55. The company has a market capitalization of £2.12 billion, a P/E ratio of 1.61, a P/E/G ratio of 0.80 and a beta of 1.07.
TBC Bank Group declared that its Board of Directors has initiated a share buyback plan on Friday, August 8th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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.
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