Bogota Financial Receives Approval for Sixth Stock Repurchase Program

Bogota Financial has received regulatory approval for its sixth stock repurchase program, allowing the repurchase of up to 237,590 shares, approximately 5% of its outstanding common stock. The program has no expiration date and allows flexibility in repurchase timing and amount, depending on market conditions and the company's financial performance. This could potentially impact shareholder value and market perception.

Bogota Financial Corp. has received regulatory approval for its sixth stock repurchase program, allowing the repurchase of up to 237,590 shares, approximately 5% of its outstanding common stock. The program, authorized by the company's board of directors, does not have a fixed expiration date and provides flexibility in repurchase timing and amount, depending on market conditions and the company's financial performance [1].

The stock repurchase program allows Bogota Financial to repurchase shares through open market transactions or private transactions, adhering to SEC regulations [1]. The decision on the timing and volume of repurchases will be influenced by factors such as stock availability, market conditions, trading price, alternative capital uses, and the company's financial performance [1].

Bogota Financial Corp. operates Bogota Savings Bank, a New Jersey chartered stock savings bank that has been serving customers in northern and central New Jersey since 1893. The bank operates from seven offices across New Jersey and maintains a loan production office in Spring Lake [1].

The stock repurchase program could potentially impact shareholder value by reducing the number of outstanding shares, which may increase the stock price due to reduced supply. However, the program's flexibility and the lack of a specific obligation to purchase a certain number of shares may create uncertainty for investors [1].

The company's recent insider trading activity and hedge fund portfolio adjustments also provide additional context. In the past six months, insiders have made two purchases of $BSBK stock, while hedge funds have shown mixed activity, with some increasing their positions and others decreasing theirs [1].

References:
[1] https://www.quiverquant.com/news/Bogota+Financial+Corp.+Announces+Regulatory+Approval+for+%241.8+Million+Stock+Repurchase+Program