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GOUVERNEUR, N.Y. - Gouverneur Bancorp, Inc. (OTCQB:GOVB) announced Thursday its Board of Directors has approved a new stock repurchase program authorizing the buyback of up to 52,778 shares, representing 5% of the company’s outstanding common stock. The $14.28 million market cap company, currently trading at $13.53 per share, appears slightly overvalued according to InvestingPro analysis.
The new program will be conducted through open market purchases, including transactions under a Securities and Exchange Commission Rule 10b5-1 trading plan, or through privately negotiated transactions. The repurchases will occur based on market conditions and other factors. InvestingPro data reveals the stock has gained 12.5% year-to-date, with technical indicators suggesting overbought conditions.
The program will terminate upon completion of the 52,778 share purchase or on July 24, 2026, if not all shares have been repurchased by that date.
This follows the company’s first stock repurchase program announced on December 11, 2024, which authorized the purchase of up to 55,356 shares. Under that program, 51,569 shares were repurchased at a cost of $634,000, averaging $12.29 per share. As of July 23, 2025, 3,787 shares remain available for repurchase under the existing program.
According to the press release statement, Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, a New York chartered savings and loan association founded in 1892. As of June 30, 2025, the company reported total assets of $196.7 million, total deposits of $159.4 million, and total stockholders’ equity of $31.4 million. The company maintains a P/E ratio of 22.1 and has consistently paid dividends for 26 consecutive years, demonstrating long-term stability.
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