Stock Repurchase Plan Initiated by HopFed Bancorp (HFBC)
HopFed Bancorp (NASDAQ:HFBC) announced that its Board of Directors has initiated a stock repurchase plan, which authorizes the company to buyback 300,000 outstanding shares on Thursday, November 16th, EventVestor reports. This buyback authorization authorizes the savings and loans company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Separately, Zacks Investment Research raised shares of HopFed Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, August 3rd.
Shares of HopFed Bancorp (HFBC) opened at $14.20 on Friday. The stock has a market cap of $93.15, a P/E ratio of 19.12 and a beta of 0.17. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. HopFed Bancorp has a 1-year low of $11.80 and a 1-year high of $15.45.
HopFed Bancorp (NASDAQ:HFBC) last posted its earnings results on Wednesday, October 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. HopFed Bancorp had a net margin of 11.09% and a return on equity of 5.21%. The firm had revenue of $9.13 million for the quarter, compared to analyst estimates of $8.99 million. research analysts anticipate that HopFed Bancorp will post 0.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 23rd. Shareholders of record on Wednesday, October 4th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, October 3rd. HopFed Bancorp’s payout ratio is 27.40%.
In other HopFed Bancorp news, Director Clay Smith bought 4,500 shares of HopFed Bancorp stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of $14.20 per share, with a total value of $63,900.00. Following the acquisition, the director now directly owns 16,580 shares of the company’s stock, valued at approximately $235,436. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 4,688 shares of company stock worth $66,557 over the last three months. Insiders own 4.30% of the company’s stock.
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About HopFed Bancorp
HopFed Bancorp, Inc is a savings and loan holding company that operates through its subsidiary, Heritage Bank USA, Inc (the Bank). The Bank is a Kentucky state chartered commercial bank based in Hopkinsville, Kentucky, with branch offices in Kentucky and Tennessee. The business of the Bank primarily consists of attracting deposits from the general public and investing such deposits in loans secured by single family residential real estate and investment securities, including United States Government and agency securities, municipal and corporate bonds, collateralized mortgages obligations (CMOs), and mortgage-backed securities.
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