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Guaranty Bancshares (GNTY) Stock Gains 4% on Dividend Hike
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Guaranty Bancshares, Inc. (GNTY - Free Report) soared 3.8% following the announcement of an increase in quarterly dividend last week. The company announced a quarterly cash dividend of 24 cents per share, representing a hike of 4.3% from the prior payout. The dividend will be paid out on Apr 10 to shareholders of record as of Mar 25.
Prior to this, GNTY increased its quarterly dividend by 4.5% to 23 cents per share. Over the past five years, the company raised its dividend seven times, with annualized dividend growth of 9.8%. At present, the company's payout ratio is 36% of earnings.
Based on the last day’s closing price of $30.44, Guaranty Bancshares’ dividend yield currently stands at 3.15%. This is impressive compared with the industry’s 0.28%.
Apart from regular dividend payouts, GNTY has a share repurchase program in place. Announced in April 2022, the plan authorized the buyback of 1 million shares by Apr 21, 2024. Last year, the company repurchased 0.43 million shares. As of Dec 31, 2023, almost 0.37 million shares remained available under the program.
Guaranty Bancshares has a decent liquidity position. As of Dec 31, 2023, total cash and cash equivalents were $89.5 million. The company’s total debt balance was $190.3 million. Given the earnings strength and solid balance sheet position, its capital distributions are likely to be sustainable going forward.
Over the years, GNTY has grown primarily through the existing markets and “the entry into new markets with de novo banking locations.” Also, the company has expanded operations through strategic acquisitions, which has helped it gain entrance into markets with robust loan demand and maintain stable operating efficiencies.
Over the past year, shares of GNTY have rallied 7.7% against the iindustry’s fall of 4.8%.
Last month, First Savings Financial Group Inc. (FSFG - Free Report) announced a quarterly cash dividend of 15 cents per share, implying a 7.1% increase from the previous figure. This dividend will be paid out on Mar 29, 2024, to shareholders of record as of Mar 15.
Prior to this, FSFG had raised its dividend by 7.7% to 14 cents per share on Nov 30, 2022. It has increased its dividend rate eight times in the past five years.
Likewise, Capital City Bank Group, Inc. (CCBG - Free Report) has increased its quarterly dividend. The bank announced a quarterly cash dividend of 21 cents per share, marking an increase of 5% from the prior payout. The dividend will be paid out on Mar 25, 2024, to shareholders of record as of Mar 11.
Prior to this, CCBG hiked its dividend by 11.1% to 20 cents per share on Aug 24, 2023. It has increased its dividend payout eight times in the past five years.
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Guaranty Bancshares (GNTY) Stock Gains 4% on Dividend Hike
Guaranty Bancshares, Inc. (GNTY - Free Report) soared 3.8% following the announcement of an increase in quarterly dividend last week. The company announced a quarterly cash dividend of 24 cents per share, representing a hike of 4.3% from the prior payout. The dividend will be paid out on Apr 10 to shareholders of record as of Mar 25.
Prior to this, GNTY increased its quarterly dividend by 4.5% to 23 cents per share. Over the past five years, the company raised its dividend seven times, with annualized dividend growth of 9.8%. At present, the company's payout ratio is 36% of earnings.
Based on the last day’s closing price of $30.44, Guaranty Bancshares’ dividend yield currently stands at 3.15%. This is impressive compared with the industry’s 0.28%.
Apart from regular dividend payouts, GNTY has a share repurchase program in place. Announced in April 2022, the plan authorized the buyback of 1 million shares by Apr 21, 2024. Last year, the company repurchased 0.43 million shares. As of Dec 31, 2023, almost 0.37 million shares remained available under the program.
Guaranty Bancshares has a decent liquidity position. As of Dec 31, 2023, total cash and cash equivalents were $89.5 million. The company’s total debt balance was $190.3 million. Given the earnings strength and solid balance sheet position, its capital distributions are likely to be sustainable going forward.
Over the years, GNTY has grown primarily through the existing markets and “the entry into new markets with de novo banking locations.” Also, the company has expanded operations through strategic acquisitions, which has helped it gain entrance into markets with robust loan demand and maintain stable operating efficiencies.
Over the past year, shares of GNTY have rallied 7.7% against the iindustry’s fall of 4.8%.
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Currently, Guaranty Bancshares sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Banks That Announced Dividend Rise
Last month, First Savings Financial Group Inc. (FSFG - Free Report) announced a quarterly cash dividend of 15 cents per share, implying a 7.1% increase from the previous figure. This dividend will be paid out on Mar 29, 2024, to shareholders of record as of Mar 15.
Prior to this, FSFG had raised its dividend by 7.7% to 14 cents per share on Nov 30, 2022. It has increased its dividend rate eight times in the past five years.
Likewise, Capital City Bank Group, Inc. (CCBG - Free Report) has increased its quarterly dividend. The bank announced a quarterly cash dividend of 21 cents per share, marking an increase of 5% from the prior payout. The dividend will be paid out on Mar 25, 2024, to shareholders of record as of Mar 11.
Prior to this, CCBG hiked its dividend by 11.1% to 20 cents per share on Aug 24, 2023. It has increased its dividend payout eight times in the past five years.