Community Bank System’s board has approved an annual stock repurchase program authorizing the buyback of up to 2,697,000 of common stock during the 12 months starting Jan. 1, 2024.
The new authorization replaces the existing program, which expires at the end of this year. The company has purchased 607,161 shares year to date.
Community Bank System has a market cap of $2.81 billion, 53.39 million shares outstanding and a public float of 52.67 million shares.
The stock closed trading Friday at $53.09, up by less than 1%.