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FS Bancorp, Inc. (NASDAQ:FSBW), a Washington-based savings institution, announced today that its executives will participate in the Raymond James U.S. Bank and Banking on Technology Conference in Chicago, Illinois. The conference is scheduled for today, Thursday, September 5, 2024.
President and Chief Financial Officer Matthew D. Mullet, alongside EVP and Chief Credit Operations Officer Robert Nesbitt, will represent the company at the event. The executives are expected to discuss the company's financial performance, strategic initiatives, and operational developments with conference attendees.
This engagement provides FS Bancorp with an opportunity to connect with current and potential investors, analysts, and other industry professionals. It also allows the company to showcase its achievements and outline its vision for the future in a forum that focuses on trends and innovations in the banking and technology sectors.
This announcement is based on a press release statement.
In other recent news, FS Bancorp has been active with a series of significant developments. The company has promoted Matthew D. Mullet to President, a role he will perform while retaining his position as Chief Financial Officer. Mullet's extensive banking career and comprehensive understanding of the bank's operations were highlighted as key reasons for his promotion.
Parallel to this, Sean McCormick (NYSE:MKC) has been promoted to Chief Credit Administration Officer, and Robert Nesbitt has been appointed as Chief Credit Operations Officer. These promotions, alongside Mullet's, underscore FS Bancorp's commitment to strengthening its leadership team.
In financial developments, FS Bancorp has announced a modest 3.8% increase in its quarterly cash dividend, rising from $0.26 to $0.27 per share. This increase is set to benefit shareholders of record as of August 7, 2024.
Additionally, the company has launched a new stock repurchase program, planning to buy back up to $5 million of its outstanding common stock over 12 months. This initiative aligns with the guidelines of Rule 10b5-1 under the Securities and Exchange Commission (SEC), allowing companies to repurchase shares under certain conditions.
InvestingPro Insights
As FS Bancorp, Inc. (NASDAQ:FSBW) prepares to engage with stakeholders at the Raymond James U.S. Bank and Banking on Technology Conference, investors may consider the latest financial data and market performance to evaluate the company's position. According to InvestingPro, FS Bancorp has demonstrated a strong return over the last three months with a 30.1% price total return, reflecting a robust short-term performance. The company has also shown a notable one-year price total return of 47.9%, which may interest long-term investors.
Despite this positive momentum, InvestingPro Tips suggest that the company is trading at a high P/E ratio of 9.28 relative to near-term earnings growth, indicating that the stock might be valued generously compared to its earnings trajectory. Additionally, FS Bancorp has maintained its dividend payments for 12 consecutive years, with a current dividend yield of 2.53%, which could appeal to income-focused shareholders. Investors may find further enrichment by exploring the 9 additional InvestingPro Tips available for FS Bancorp, which provide deeper insights into the company's financial health and market expectations.
With a market capitalization of $328.63 million and a revenue growth of 6.1% in the last twelve months as of Q2 2024, FS Bancorp appears to maintain a stable financial base. The company's recent price uptick over the last six months, standing at 34.31%, may also signal confidence among investors. As FS Bancorp continues to navigate the banking and technology sectors, these metrics and insights from InvestingPro could serve as valuable tools for assessing the company's future prospects.
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