TBC Bank Group PLC (LON:TBCG – Get Free Report) dropped 11.9% during mid-day trading on Friday . The stock traded as low as GBX 3,750 and last traded at GBX 3,785. Approximately 8,443,690 shares were traded during trading, an increase of 3,308% from the average daily volume of 247,755 shares. The stock had previously closed at GBX 4,295.
TBC Bank Group Price Performance
The stock’s 50-day moving average is GBX 4,370.34 and its 200 day moving average is GBX 4,540.27. The stock has a market cap of £2.12 billion, a price-to-earnings ratio of 1.61, a P/E/G ratio of 0.80 and a beta of 1.07.
TBC Bank Group announced that its board has approved a stock repurchase plan on Friday, August 8th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
About TBC Bank Group
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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