Share Repurchase Program Declared by Texas Community Bancshares (NASDAQ:TCBS) Board

Texas Community Bancshares (NASDAQ:TCBS) announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 16th, RTT News reports. The company plans to repurchase $140,000.00 in shares. This repurchase authorization authorizes the company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Texas Community Bancshares Price Performance

Shares of NASDAQ TCBS opened at $15.95 on Friday. Texas Community Bancshares has a twelve month low of $14.90 and a twelve month high of $19.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $16.03 and a two-hundred day moving average of $16.11. The company has a market capitalization of $46.41 million, a price-to-earnings ratio of 18.76 and a beta of 0.06.

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

Texas Community Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Tuesday, December 2nd were issued a $0.05 dividend. This is an increase from Texas Community Bancshares’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Texas Community Bancshares’s dividend payout ratio is currently 23.53%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, Texas Community Bancshares 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.