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RESTON, Va. - John Marshall Bancorp, Inc. (NASDAQ:JMSB), a regional bank with a market capitalization of $269 million, announced Tuesday that its Board of Directors has extended the company’s stock repurchase program through August 31, 2026. According to InvestingPro analysis, the company appears undervalued at its current trading price.
The program authorizes the company to repurchase up to 700,000 shares of its outstanding common stock. To date, John Marshall has repurchased 93,103 shares, representing approximately $1.6 million under the program.
The stock repurchase program, which was originally approved by the Board in 2021 and was set to expire on August 31, 2025, remains otherwise unchanged with the one-year extension.
According to the company’s statement, the repurchases are expected to be funded using cash on hand and cash from operations of John Marshall Bank. The program does not obligate the company to purchase any specific number of shares and may be suspended, terminated or modified at any time without prior notice.
The company noted that repurchases will be subject to market conditions, legal and regulatory requirements, and other considerations.
John Marshall Bancorp is the holding company for John Marshall Bank, which operates eight full-service branches across Virginia, Maryland, and Washington, D.C. The bank provides banking services to businesses and professionals in the Washington, D.C. Metropolitan area.
The announcement was made in a press release issued by the company.
In other recent news, Keefe, Bruyette & Woods (KBW) initiated coverage on John Marshall Bancorp with an Outperform rating. The firm set a price target of $22.00 for the stock. This rating implies a potential total return of about 18% over the next year, factoring in dividends. These developments provide investors with insights into the company’s projected performance. Analyst ratings like this can influence investor perceptions and decisions. John Marshall Bancorp’s recent analyst coverage reflects confidence in its future prospects. The Outperform rating suggests that the company may perform better than the broader market. This update is part of the latest developments concerning John Marshall Bancorp.
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