FS Bancorp Inc . (NASDAQ:FSBW), a Washington-based banking corporation, has recently hit a 52-week high, reaching a price level of $43.5. This milestone reflects the company's strong performance over the past year, despite the challenging economic environment. The 52-week high is a significant indicator of the company's robust financial health and its ability to deliver consistent growth to its shareholders. Over the past year, FS Bancorp Inc. has seen a substantial increase in its stock value, with a 1-year change of 34.22%. This impressive growth rate underscores the company's resilience and its potential for further expansion in the coming months.
In other recent news, FS Bancorp has announced a series of significant developments. The company has raised its quarterly cash dividend to $0.27 per share, marking a 3.8% increase from the previous dividend of $0.26 per share. This change is set to benefit shareholders of record with the payment due soon.
In addition to the dividend increase, FS Bancorp has also initiated a $5 million stock repurchase program. This program is expected to commence shortly and will continue over a 12-month period. The buybacks may occur in various ways, including open market transactions, privately negotiated transactions, or withholding shares upon the exercise of equity awards.
FS Bancorp also recently announced the promotions of Sean McCormick (NYSE:MKC) and Robert Nesbitt to senior leadership roles within 1st Security Bank. McCormick has stepped into the role of Chief Credit Administration Officer, while Nesbitt has been appointed as Chief Credit Operations Officer. Both bring a wealth of experience and expertise to their new roles, with McCormick overseeing the bank's credit strategy and risk management, and Nesbitt managing the bank's commercial credit operations.
These are among the latest developments for FS Bancorp, reflecting its ongoing commitment to shareholder value and organizational growth.
InvestingPro Insights
FS Bancorp Inc. (FSBW) has demonstrated notable financial performance, as indicated by the company's recent achievement of a 52-week high. Delving into the data, FSBW has a strong foundation with a market capitalization of $333.32 million and a compelling price-to-earnings (P/E) ratio of 9.2. This attractive valuation is further supported by its P/E ratio for the last twelve months as of Q1 2024, which stands at 9.24, suggesting that the stock is trading at a reasonable price relative to near-term earnings growth—an InvestingPro Tip worth considering for value investors.
Investors should also note the company's impressive revenue growth of 13.82% over the last twelve months as of Q1 2024, a testament to its ability to increase sales in a competitive market. Additionally, FSBW has maintained its dividend payments for 12 consecutive years, with a current dividend yield of 2.58%, and a dividend growth rate of 8.0% in the same period, highlighting its commitment to returning value to shareholders. These figures are particularly relevant for income-focused investors looking for stable dividend-paying stocks.
For those looking to delve deeper, InvestingPro offers a range of additional tips highlighting FSBW's strong return over the last month and three months, alongside predictions of continued profitability. To access these insights and more, investors may consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With 11 additional InvestingPro Tips available, savvy investors have the opportunity to make informed decisions backed by comprehensive analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.