Better Home & Finance rises after $30 million stock buyback unveiled
BETR•Better Home & Finance shares rose 3.8% premarket after the company announced a buyback program of up to $30 million, starting with an initial $10 million phase.
1. Buyback plan
The company said its board authorized repurchases of up to $30 million in stock, with the program set to expire on October 8, 2027. It intends to align the pace of repurchases with operational cost savings and asset disposals, including the proposed sale of its UK bank subsidiary.
2. Recent company context
In August, Better Home & Finance forecast third-quarter revenue below Wall Street expectations as it focused on partnership opportunities and accelerating growth in its home equity line of credit business. The stock had fallen about 70% year to date through Wednesday.
