Texas Community Bancshares (NASDAQ:TCBS) Stock Price Down 2.6% – What’s Next?

Texas Community Bancshares, Inc. (NASDAQ:TCBS) fell 2.6% during trading on Wednesday . The company traded as low as $16.36 and last traded at $16.37. 1,826 shares were traded during mid-day trading, an increase of 112% from the average session volume of 860 shares. The stock had previously closed at $16.80.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Community Bancshares in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Texas Community Bancshares Stock Down 2.6%

The business’s fifty day moving average is $16.77 and its two-hundred day moving average is $16.45. The stock has a market cap of $47.64 million, a price-to-earnings ratio of 19.26 and a beta of 0.04. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91.

Texas Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. Texas Community Bancshares’s payout ratio is 23.53%.

Texas Community Bancshares announced that its board has authorized a share repurchase program on Tuesday, December 16th that authorizes the company to buyback $140,000.00 in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Texas Community Bancshares stock. Geode Capital Management LLC increased its stake in shares of Texas Community Bancshares, Inc. (NASDAQ:TCBS) by 21.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,781 shares of the company’s stock after purchasing an additional 3,271 shares during the quarter. Geode Capital Management LLC owned 0.62% of Texas Community Bancshares worth $302,000 at the end of the most recent quarter. 15.83% of the stock is owned by institutional investors and hedge funds.

About Texas Community Bancshares

Texas Community Bancshares, Inc (NASDAQ: TCBS) is the bank holding company for Texas Community Bank, a state-chartered commercial bank headquartered in Harlingen, Texas. Through its wholly owned banking subsidiary, the company delivers community banking services across the Rio Grande Valley region of South Texas, focusing on relationship-driven banking and locally empowered decision making.

The company’s core offerings include a broad range of deposit products—such as checking, savings and money market accounts—and consumer and commercial lending solutions.