Preferred Bank rises on gaining approval for $150 mln share buyback program

Preferred Bank

12/06/2023 16:07

** Shares of Preferred Bank  PFBC.O  up as much as 4.6% at
$54.96 
    ** Co says on May 16, shareholders approved stock repurchase
plan which calls for repurchase of up to $150 mln of common
stock
    ** Adds that co received all required approvals to begin its
stock repurchase plan 
    ** Including session gains, stock has fallen ~26% YTD 

 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))