Guaranty plans to repurchase outstanding shares

Guaranty is allowed to repurchase shares as “opportunities arise at prevailing market prices in the open market or in unsolicited privately negotiated transactions,” according to a company news release.

Shaun Burke, Guaranty president and CEO, said in the release that the repurchase plan is an efficient way to manage capital.

On July 14, Guaranty reported a 6 percent increase in second-quarter per-share earnings and a 9 percent year-over-year rise in net income.

Shares of the holding company’s stock (Nasdaq: GFED) closed Monday at $28.95, compared to a 52-week range of $25 to $30.59.[[In-content Ad]]