Key Highlights

  • General Motors announced a new multi-year $20 billion repurchase authorization on October 20, with no expiration date.
  • Columbia Banking approved a new authorization of up to $1.2 billion after repurchasing $199 million in the third quarter.
  • First BanCorp announced a $350 million program and raised its common dividend 25%.
  • Ameris Bancorp approved repurchases of up to $200.0 million through October 31, 2027.
  • RingCentral repurchased $18 million of stock in the quarter and has about $309 million left under an existing authorization.

Share Buybacks: Which Companies Announced New Authorizations This Week?

Several companies paired third-quarter results with new repurchase authorizations this week, though not every program is new. General Motors (NYSE:GM) announced a multi-year $20 billion authorization with no expiration date on Tuesday, October 20. It follows a separate $6 billion program announced in January.

On Thursday, October 22, Columbia Banking System (NASDAQ:COLB) said its board approved a new authorization of up to $1.2 billion with no expiry. First BanCorp (NYSE:FBP) announced a $350 million program alongside a 25% dividend increase, and Ameris Bancorp (NYSE:ABCB) approved up to $200.0 million through October 31, 2027.

Barclays (NYSE:BCS) also announced a new 500 million pound buyback with its third-quarter report.

General Motors Buyback: Why Did Shares Fall 6.84% on a $20 Billion Authorization?

General Motors shares closed at $77.09 on October 20, down 6.84%, the day it announced the program and third-quarter results. Adjusted EPS was $3.70, up from $2.80, and revenue was about $50 billion, up 2.9%.

Full-year adjusted EBIT guidance was narrowed to $14.5 billion to $15.5 billion from $14 billion to $16 billion, while adjusted automotive free cash flow guidance was raised to $11.5 billion to $12.5 billion from $9.5 billion to $11.5 billion. The company said the program can be suspended or discontinued at any time.

Shares outstanding fell to 849 million at the end of September from 904 million at the end of 2025, a drop of about 6.1%, calculated.

Existing Programs: What Do RingCentral, Deckers and Comcast Show?

Not every capital return story is a new announcement. RingCentral (NYSE:RNG) repurchased about 0.4 million shares for $18 million in the third quarter, down from about 2.2 million shares for roughly $94 million in the second quarter, while it cut gross debt to about $1 billion. About $309 million remains under its authorization, and no new program was announced.

Deckers (NYSE:DECK) repurchased 3.2 million shares for $299.3 million in its fiscal second quarter, with about $4.4 billion of authorization remaining, and its full-year plan assumes $1.0 billion of repurchases. Its shares traded 6.94% lower after hours on October 22 after a lower sales outlook.

Comcast (NASDAQ:CMCSA) went the other way. It suspended repurchases from the third quarter while it works through its proposed separation of NBCUniversal and Sky, and nine-month buybacks were $2.517 billion against $5.618 billion a year earlier.

Buyback Pace: What Should Investors Watch After the Announcements?

Authorizations are caps, so the more informative figure is what companies actually buy. Columbia Banking said it plans fourth-quarter repurchases of $150 million to $200 million, a stated pace that can be checked against its next report. First BanCorp repurchased $50.0 million at an average price of $28.67 in the quarter.

Investors can compare dollars repurchased against the authorization, the change in share count, and whether buybacks continue when guidance weakens. GM's share count, RingCentral's remaining $309 million and Deckers' $1.0 billion plan are early tests.