Poage Bankshares (NASDAQ:PBSK) declared that its board has approved a stock buyback plan, which permits the company to repurchase 180,000 shares on Wednesday, December 6th, EventVestor reports. This repurchase authorization permits the savings and loans company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Poage Bankshares (NASDAQ:PBSK) traded up $0.95 during midday trading on Thursday, reaching $19.15. The company had a trading volume of 700 shares, compared to its average volume of 3,090. Poage Bankshares has a 1 year low of $17.20 and a 1 year high of $20.25. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market cap of $64.10, a P/E ratio of 44.39 and a beta of 0.07.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, November 2nd. Poage Bankshares’s dividend payout ratio is currently 58.54%.

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About Poage Bankshares

Poage Bankshares, Inc is a holding company for Town Square Bank (Town Square). Town Square is a federal savings association. The Company operates in banking segment. Town Square’s business consists of accepting savings accounts, checking accounts and certificates of deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, primarily in first lien one-to-four-family mortgage loans, commercial and multi-family real estate loans, commercial and industrial loans consumer loans, consisting primarily of automobile loans and home equity loans and lines of credit, and construction loans.

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