Texas Community Bancshares (NASDAQ:TCBS) Board Declares Stock Repurchase Program

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

Texas Community Bancshares Trading Down 0.5%

Shares of TCBS traded down $0.08 during midday trading on Wednesday, hitting $16.37. 599 shares of the stock were exchanged, compared to its average volume of 2,618. Texas Community Bancshares has a 52-week low of $14.90 and a 52-week high of $19.40. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day simple moving average of $16.03 and a 200 day simple moving average of $16.11. The firm has a market cap of $47.64 million, a P/E ratio of 19.26 and a beta of 0.06.

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

Texas Community Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Tuesday, December 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Texas Community Bancshares’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, December 2nd. Texas Community Bancshares’s dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Texas Community Bancshares in a research note on Wednesday, October 8th. One 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 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.