Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

FS Bancorp (FSBW) Stock Up 3.6% on New Share Repurchase Plan

By Zacks Investment ResearchStock MarketsSep 21, 2020 06:38AM ET
www.investing.com/analysis/fs-bancorp-fsbw-stock-up-36-on-new-share-repurchase-plan-200538283
FS Bancorp (FSBW) Stock Up 3.6% on New Share Repurchase Plan
By Zacks Investment Research   |  Sep 21, 2020 06:38AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Shares of FS Bancorp (NASDAQ:FSBW), Inc. FSBW rallied 3.6% following the announcement of a new share repurchase plan last week. The board of directors has approved buyback authorization worth $5 million.

Repurchases under the program can be executed either through the open market or privately negotiated transactions, depending on the market conditions and other factors.

FS Bancorp has been rewarding shareholders through regular buybacks. Earlier in January, the bank had authorized 225,000 shares or 5% of issued shares and outstanding common stock (as of Dec 31, 2019) for repurchase, which was set to expire in January 2021. Nonetheless, as of Jun 30, 2020, the company fully utilized this buyback program.

Apart from share repurchase authorizations, FS Bancorp has been paying regular quarterly cash dividend. Since 2014, the company has been increasing its quarterly dividend on an annual basis. The last hike of 5% was announced in January. Considering last day’s closing price of $41.82, FS Bancorp’s dividend yield currently stands at 2.01%.

FS Bancorp’s financials are supported by strong balance sheet. As of Jun 30, the company had total debt worth $160.2 million, higher than the total cash and cash equivalents balance of $126.1 million. Yet, its total debt to total capital of 43.4% at the end of the second quarter improved sequentially. Also, the company’s times-interest-earned of 13.7 at the end of the June quarter improved from the prior quarter.

Given the earnings strength and decent liquidity position, the company will likely be able to sustain the current level of capital deployment program.

Shares of FS Bancorp have jumped 39.9% over the past six months, significantly outperforming the industry’s rally of 6.7%.



Currently, FS Bancorp sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

New Share Buyback Plans by Other Banks

Over the last few weeks, several banks including Home Bancorp (NASDAQ:HBCP), Inc. HBCP, HarborOne Bancorp (NASDAQ:HONE), Inc. HONE and Columbia Financial (NASDAQ:CLBK), Inc.’s CLBK have announced new share repurchase authorizations. Home Bancorp’s board of directors approved the repurchase of up to 444,000 shares of the company’s common stock.

HarborOne Bancorp’s board of directors adopted a share repurchase program, which authorized buyback of up to 2.92 million shares, while Columbia Financial announced authorization to repurchase up to about 5 million shares.

Zacks’ Single Best Pick to Double

From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.

The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.

Click Here, See It Free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Home Bancorp, Inc. (HBCP): Free Stock Analysis Report

FS Bancorp, Inc. (FSBW): Free Stock Analysis Report

HarborOne Bancorp, Inc. (HONE): Free Stock Analysis Report

COLUMBIA FINL (CLBK): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research
FS Bancorp (FSBW) Stock Up 3.6% on New Share Repurchase Plan
 

Related Articles

FS Bancorp (FSBW) Stock Up 3.6% on New Share Repurchase Plan

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email