Fulton Financial (FULT) in Lancaster, Pa., has approved a new share repurchase program.
The $16.3-billion holding company's board gave management the authority to buy up to 8 million shares of common stock, or roughly 4% of all outstanding shares. The purchases will be made at market prices through June 30, 2013, Fulton said in a press release.
Based on Wednesday's closing price of $10.15 a share, the program could cost $81 million.
Fulton said that it had completed its 2012 repurchase program, buying back 2.1 million shares under an authorization announced in June.
Separately, the company completed the
