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Bogota Financial Corp. receives regulatory approval for 5% stock repurchase.
ByAinvest
Tuesday, Aug 12, 2025 9:11 am ET1min read
Bogota Financial Corp. has received regulatory approval to repurchase up to 237,590 shares of its common stock, approximately 5% of its outstanding shares. This is the company's sixth stock repurchase program and may be suspended, terminated, or modified at any time. The program does not obligate the company to purchase a specific number of shares.
Bogota Financial Corp. (NASDAQ: BSBK), a Maryland-based holding company for Bogota Savings Bank, has received regulatory approval to repurchase up to 237,590 shares of its common stock. This represents approximately 5% of its outstanding shares, excluding those held by Bogota Financial, MHC [1]. The approval marks the company's sixth stock repurchase program, which has no expiration date and can be conducted through open market or private transactions [2].The timing and volume of repurchases will be influenced by several factors, including stock availability, market conditions, trading price, capital allocation alternatives, and the company's financial performance. The program can be suspended, terminated, or modified at any time for any reason, and the company is not obligated to purchase any specific number of shares [1, 2].
Bogota Financial Corp. operates as the mid-tier holding company of Bogota Savings Bank, a New Jersey chartered stock savings bank that has served customers in northern and central New Jersey since 1893. The bank currently operates from seven offices across New Jersey and maintains a loan production office in Spring Lake [2].
This stock repurchase program follows a strong year-to-date return of 12.14% for the company, despite not being profitable in the last twelve months [2]. The company's stock is currently trading below book value at a P/B ratio of 0.77 and showing revenue growth of 16.24%, suggesting that the stock may be undervalued [2].
References:
[1] https://www.stocktitan.net/news/BSBK/bogota-financial-corp-adopts-and-receives-regulatory-approval-of-ofz4m9dpd26s.html
[2] https://ng.investing.com/news/company-news/bogota-financial-receives-approval-for-5-stock-repurchase-program-93CH-2057702
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