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FS Bancorp Inc (NASDAQ:FSBW) stock soared to a 52-week high of $48.32, reflecting a remarkable year of performance with a 1-year change showing an impressive 51.86% increase. This surge in stock price underscores the strong financial health and positive investor sentiment towards the company. The significant rise over the past year highlights the market's confidence in FSBW's strategic direction and its ability to generate value for shareholders amidst a dynamic economic landscape.
In other recent news, FS Bancorp has been active with several significant updates. The company reported a 3.8% increase in its quarterly cash dividend, rising from $0.26 to $0.27 per share, set to benefit registered shareholders. In addition, FS Bancorp has initiated a new stock repurchase program, planning to buy back up to $5 million of its outstanding common stock over a period of 12 months, in accordance with SEC Rule 10b5-1 guidelines.
On the personnel front, Terri L. Degner has been appointed to FS Bancorp's Board of Directors, bringing extensive experience from her previous roles including Executive Vice President, Chief Financial Officer, and Treasurer at Anchor Bank. Further executive changes include the promotion of Matthew D. Mullet to President, while retaining his CFO role. Sean McCormick (NYSE:MKC) has been promoted to Chief Credit Administration Officer, and Robert Nesbitt has been appointed as Chief Credit Operations Officer, enhancing the company's leadership team.
In terms of events, FS Bancorp executives are set to participate in the Raymond (NS:RYMD) James U.S. Bank and Banking on Technology Conference in Chicago, where they will discuss the company's financial performance, strategic initiatives, and operational developments. These are the recent developments at FS Bancorp.
InvestingPro Insights
FS Bancorp Inc's (FSBW) impressive stock performance is further supported by recent data from InvestingPro. The company's stock has shown a robust 58.65% total return over the past year, with a particularly strong 41.87% return in the last six months. This aligns with the article's mention of the stock reaching a 52-week high, currently trading at 94.87% of that peak.
InvestingPro Tips reveal that FSBW has raised its dividend for 12 consecutive years, demonstrating a commitment to shareholder returns. This consistent dividend growth, coupled with a current dividend yield of 2.42%, may be contributing to investor confidence and the stock's strong performance.
The company's financial health appears solid, with a P/E ratio of 9.09, suggesting the stock may be undervalued relative to earnings. Additionally, FSBW's revenue growth of 2.6% over the last twelve months, while modest, indicates continued business expansion.
For investors seeking more comprehensive analysis, InvestingPro offers 9 additional tips for FSBW, providing deeper insights into the company's financial position and future prospects.
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