Texas Community Bancshares (NASDAQ:TCBS) Board of Directors Authorizes Stock Buyback Plan

Texas Community Bancshares (NASDAQ:TCBS) declared that its board has initiated a stock buyback program on Tuesday, December 16th, RTT News reports. The company plans to repurchase $140,000.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Community Bancshares in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Texas Community Bancshares Trading Down 0.5%

TCBS traded down $0.08 during mid-day trading on Wednesday, hitting $16.37. The stock had a trading volume of 599 shares, compared to its average volume of 2,618. The stock’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $16.11. The firm has a market capitalization of $47.64 million, a price-to-earnings ratio of 19.26 and a beta of 0.06. Texas Community Bancshares has a 1-year low of $14.90 and a 1-year high of $19.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89.

Texas Community Bancshares (NASDAQ:TCBS) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $4.40 million during the quarter. Texas Community Bancshares had a net margin of 9.98% and a return on equity of 4.77%.

Texas Community Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 2nd were given a dividend of $0.05 per share. This is an increase from Texas Community Bancshares’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, December 2nd. Texas Community Bancshares’s payout ratio is 23.53%.

Texas Community Bancshares Company Profile

Texas Community Bancshares, Inc operates as the bank holding company for Mineola Community Bank, S.S.B. that provides loans and banking services to consumers and commercial customers in Mineola, Texas and the surrounding area, and the Dallas Fort Worth Metroplex. It generates a selection of deposit accounts, including savings accounts, checking accounts, certificates of deposit, and individual retirement accounts.