On Friday, Shares of Sabre Corp (NASDAQ:SABR), added 1.59% and closed at $24.94in the last trading session. The last trading range of the stock ranges between $23.98 and $24.96. Sabre Corporation (SABR) recently declared that its Board of Directors has approved a share repurchase program to purchase up to an aggregate of $100 million of shares of Sabre’s common stock. The program will expire on December 31, 2016.
“With leverage near the bottom of our targeted range and expectations for continued strong growth in free cash flow, we believe the return of capital through an opportunistic share repurchase program represents an attractive opportunity to enhance long-term shareholder value,” said Rick Simonson, Sabre’s chief financial officer.
Repurchases under the program may take place in the open market or privately negotiated transactions, counting but not limited to accelerated share repurchase transactions, derivative transactions and under Rule 10b5-1 plans.
Valley National Bancorp (NYSE:VLY), jumped 2.71% and closed at $11.00 in the last trading session. The last trading range of the stock ranges between $10.64 and $11.06. The company’s Market capitalization is $2.88 Billion with the total Outstanding Shares of 254.53 million. Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Administration segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, in addition to certificates of deposit. The companys loan products comprise construction, residential mortgage, home equity, automobile, and floating rate and adjustable rate commercial and industrial loans, in addition to fixed rate owner occupied and commercial real estate loans, credit card loans, personal lines of credit, personal loans, and loans secured by cash surrender value of life insurance. It also invests in securities, such as fixed rate investments, federal funds, and interest-bearing deposits with banks; and offers international banking services, such as standby letters of credit, documentary letters of credit and related products, and other ancillary services. In addition, the company provides asset administration advisory, trust, and asset-based lending support services; property and casualty, life, health, and title insurance; and health care equipment and other commercial equipment leases, in addition to general aviation aircraft loans and commercial equipment leases, and real estate related investments.