YOUNGSTOWN, Ohio -- The Board of Directors of United Community Financial Corp. Monday authorized the repurchase of as many as 2.5 million common shares.
UCFC is the holding company of the Home Savings and Loan Co.
Last May 14, the directors reinstituted the holding company’s stock repurchase program and authorized the repurchase of as many as 1,477,804 common shares. Since then the company has repurchased 1,363,500 at an average price of $4.60 per share.
Trading in UCFC yesterday closed at $5.46, down three cents from Friday’s close. Volume was 101,735 and the 52-week range is $3.17 to $5.51. Institutional investors own 49% of the 49.69 million shares of UCFC.
The president and CEO of UCFC and Home Savings, Gary M. Small, said in a prepared statement, “Our focus is to manage our capital so that we maximize shareholder value and returns, and our commitment to maintaining this program is an important part of those strategies. In addition, we are excited about the successful growth strategies we implemented in 2014, and we believe these various initiatives when combined with our capital management strategies will meaningfully enhance shareholder value.”
Published by The Business Journal, Youngstown, Ohio.
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