Buyback Announcements and News

1/23/2025

Insider transaction: EON Resources holder Pogo Royalty discloses sale of 1.1M shares - Form 4 ($1.16, 0.00)

• Following the transaction Pogo Royalty beneficially holds 500,000 shares of Class B common stock of the company and an equivalent number of HNRA Upstream, LLC Class B Units, which together are exchangeable for 500,000 shares of Class A common stock of the company.

1/23/2025

Twilio reports preliminary Q4 revenue +~11% y/y vs FactSet +7.9%; authorizes share repurchase program of $2.0B - 8-K ($113.40, 0.00)

• Reports preliminary Q4:
  • Non-GAAP income from operations above the top end of prior guidance $185M-195M vs FactSet $191.3M [22 est, $185.7-208.4M]
• Reports preliminary FY (Dec 2024):
  • Free cash flow within the range of prior guidance $650M-675M vs FactSet $685.9M
• Buybacks:
  • On 19-Jan-25, the board authorized a share repurchase program of $2.0B under which the company may repurchase up to $2.0B of the company's Class A common stock. The company's previously authorized share repurchase programs expired on 31-Dec-24.
  • The Share Repurchase Program is set to expire on 31-Dec-27.

1/23/2025

JPMorgan Chase CEO Dimon to sell ~1M shares of JPMorgan stock for financial diversification and tax-planning purposes - 8-K ($265.95, 0.00)

• While there is no intention to execute further sales at this time, Dimon and his family retain the option to do so in the future.
• Dimon and his family currently hold ~7.5M shares.

1/23/2025

Follow-up: East West Bancorp increases quarterly dividend by 9.1% to $0.60 from $0.55; incremental $300M in share repurchase authority ($103.50, 0.00)

• As announced in its earnings press release, EWBC increased the common dividend by 9% and increased the share repurchase authorization by an incremental $300M
• Dividend:
  • Payable 17-Feb-25; record 3-Feb-25.
  • The new annualized dividend yield is 2.32% vs prior annualized dividend yield of 2.13%.
• Share repurchase authorization:
  • On 22-Jan-25, East West's board authorized the repurchase of up to $300M of additional East West stock, resulting in $329M of total current authorization available.

1/23/2025

Insider Transaction: Morgan Stanley Co-President Andrew Saperstein discloses sale of 30.8K shares of common stock - Form 4 ($137.80, 0.00)

• Following the disclosure, Saperstein beneficially owns 327K shares of common stock

1/23/2025

East West Bancorp reports Q4 EPS $2.10 vs FactSet $2.11 [11 est, $2.01-2.22] ($103.50, 0.00)

• Reports Q4:
  • Revenue $675.8M vs StreetAccount $659.1M
  • Net interest income $587.6M vs FactSet $574.2M
• FY Guidance (Dec 2025):
  • Revenue growth +5% to +7% y/y vs FactSet +4.1%
  • Net interest income +4% to +6% y/y
  • Total Operating Noninterest Expense +7-9% y/y
  • End of period loans growing in range +4% to +6% y/y
  • Net charge-offs in range of 25-35bps
  • Effective tax rate 21-23%
  • Interest rate outlook assumes 31-Dec forward curve, with 50bps of expected cuts in fed funds rate and steepening yield curve
• Share repurchase:
  • Incremental $300M in share repurchase authorization
• Dividend increase:
  • Announces 9% increase in stock dividend
• Editor's Note: This comment was revised to add Total Operating Noninterest Expense +7-9% y/y. (23-Jan-2025, 16:26 ET)

1/23/2025

Buybacks coming back, better seasonality:

• Corporates, the biggest source of demand for US equities, expected to get more active over the near term. Goldman Sachs noted that corporate buyback window ends on Friday, 24-Jan, with ~45% of the S&P market cap to return to the market. Added that it sees $1T worth of corporate demand in 2025, representing the largest year on record for buybacks. Even with the blackout period into earnings, BofA noted that corporate client buybacks continued to accelerate last week and early 2025 buyback activity has been tracking at similarly elevated levels to recent years and above 2010 levels. Added that this suggests management teams do not believe stocks are too expensive to repurchase even with the current higher rate backdrop. Also pointed out that in 2024, corporate client buybacks as a % of market cap were highest in firm's data history. Along with expected pickup in buyback activity, seasonality another bright spot. Goldman noted that 22-Jan marked the local January low. Also reiterated January single largest month of the year for inflows into 401k, 529 allocations.
• For the latest updates on this story and all top news, please visit the US Today's Top News page.

1/23/2025

GE Aerospace announces share repurchase plans of $7B in 2025, to increase dividend by 30% ($188.36, 0.00)

• GE announced share repurchase plans of $7B in 2025, while increasing the dividend by 30%, subject to board approval.

1/23/2025

Texas Capital Bancshares reports Q4 EPS $1.43 vs FactSet $1.09 [13 est, $0.94-1.18] ($80.56, 0.00)

• Reports Q4:
  • Net interest income $229.6M vs StreetAccount $232.8M
  • Net interest margin 2.93% vs FactSet 3.10%
  • Provision for credit losses for Q4 of 2024 was $18.0M, compared to $10.0M for Q3 of 2024. The $18.0M provision for credit losses recorded in Q4 of 2024 resulted primarily from growth in total loans held for investment and $12.1M in net charge-offs.
• Buybacks:
  • On 22-Jan-25, the company's board authorized a new share repurchase program under which the company may repurchase up to $200.0M in shares of its outstanding common stock through 31-Jan-26.
  • Remaining repurchase authorization under the 17-Jan-24 share repurchase program was terminated upon authorization of this new program.

1/22/2025

Insider Transaction: Ardelyx Chairman David Mott discloses purchase of 199K shares of common stock - Form 4 ($5.05, 0.00)

• Following the purchase, Mott beneficially owns 1.94M shares of common stock