Texas Community Bancshares (NASDAQ:TCBS) to Repurchase $140,000.00 in Outstanding Stock

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

Texas Community Bancshares Stock Down 0.5%

NASDAQ TCBS traded down $0.08 during trading on Wednesday, reaching $16.37. 599 shares of the company’s stock were exchanged, compared to its average volume of 2,618. The stock has a market cap of $47.64 million, a P/E ratio of 19.26 and a beta of 0.06. 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 company has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $16.11. Texas Community Bancshares has a 1 year low of $14.90 and a 1 year high of $19.40.

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

Texas Community Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. 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 yield of 1.2%. Texas Community Bancshares’s dividend payout ratio is 23.53%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Community Bancshares in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus 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.