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Ottawa Bancorp Inc (OTCMKTS:OTTW) Stock On Watchlist After Expiration of Stock Repurchase Program

Pete Matthews , , , ,

Last Friday Ottawa Bancorp Inc (OTCMKTS:OTTW) was in the news after it made a major new announcement and it may be a good time for investors to take a closer look.

Trading Data

On Friday, OTTW stock ended flat at $13 with 100 shares, compared to volume of 2.94K shares. The stock moved within a range of $13.00 – 13.00 after opening trade at $13.

Ottawa Bancorp, Inc. Announces Expiration of Stock Repurchase Program       

The company, which is the parent company of OSB Community Bank, announced last Friday that its stock repurchase initiative that had been previously announced had expired back on November 29, 2022 in line with the terms and conditions of the program. The stock repurchase program had been announced back on December 1, 2022 and since then Ottawa Bancorp had picked up as many as 254,457 shares of its common stock at the average price of $14.24 each.

In this situation, it may be a good time for investors to consider taking a closer look at the kind of business the company as involved in. As mentioned earlier, it is the parent company of the OSB Community Bank.

OSB Community Bank offers a range of financial services to both corporate customers as well as retail customers in the United States. In addition to the range of commercial banking services, it also offers a range of loans starting from residential mortgage to construction loans.

Technical Data

OTTW stock is trading below the 20-Day and 50-Day Moving averages of $13.40 and $13.80 respectively. Moreover, the stock is trading below the 200-Day moving average of $14.36.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.