MOUNTLAKE TERRACE, Wash. - FS Bancorp, Inc. (NASDAQ: FSBW), the parent company of 1st Security Bank of Washington, has announced a new stock repurchase program. The Board of Directors has authorized the repurchase of up to $5.0 million in shares of the company’s outstanding common stock. According to InvestingPro data, the company maintains a GOOD financial health score, with the stock currently trading at $35.63, representing a modest discount to its Fair Value. This new program is set to take place over a 12-month period ending March 31, 2026, and will not begin until at least the third trading day following this announcement.
Under the program, shares may be repurchased on the open market or through privately negotiated transactions, depending on a variety of factors, including market conditions, stock price, and the company’s financial performance. The management will make repurchases at times and prices they believe will benefit the company and its shareholders.
This new repurchase plan comes in addition to the approximately $900,000 remaining under a previous repurchase plan announced on November 15, 2024. All repurchases are subject to SEC rules and regulations, specifically Rule 10b5-1, which allows companies to repurchase their own stock at predetermined times and prices to avoid any potential conflict with insider trading laws.
FS Bancorp, Inc., a Washington corporation, operates primarily in Washington and Oregon, offering loan and deposit services to small- and middle-market businesses and individuals. The bank operates through 27 branches and services home mortgage customers throughout the Northwest, predominantly in Washington State. InvestingPro analysis reveals the company has maintained dividend payments for 13 consecutive years, with a current dividend yield of 3.12%. For deeper insights into FS Bancorp’s financial metrics and additional ProTips, subscribers can access the full analysis on InvestingPro.
The repurchase program may be modified, suspended, or terminated at any time due to various factors, including changes in market conditions, investment opportunities, liquidity, and other considerations deemed relevant by the company’s management.
This news is based on a press release statement and reflects FS Bancorp’s current plans for stock repurchases. It should be noted that forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected
In other recent news, FS Bancorp reported its pre-tax net income aligned with DA Davidson’s forecasts, although minor discrepancies in earnings per share (EPS) were noted due to tax calculation adjustments. Despite these discrepancies, DA Davidson highlighted the company’s robust loan growth, consistent credit quality, and well-managed expenses in its analysis. The firm adjusted its price target for FS Bancorp shares from $47 to $45, maintaining a Neutral rating. Analysts at DA Davidson anticipate an improvement in EPS following the fourth quarter of 2024. Additionally, FS Bancorp’s executives are set to attend the 2025 Janney CEO Forum in Scottsdale, Arizona. The company has prepared investor materials for the event, which are available in a recent SEC filing. These materials offer insights into FS Bancorp’s financial health and operational strategies. Investors can refer to the SEC filing for detailed information on the company’s participation and the materials presented.
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