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First Savings Financial (FSFG) Announces 7.1% Rise in Dividend
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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. The company has a five-year annualized dividend growth rate of 31.25%. Currently, the company’s payout ratio is 30% of its earnings.
Based on its closing price of $16.70 per share on Feb 28, 2024, First Savings Financial currently has an annual dividend yield of 3.41%.
Additionally, the company has an ongoing share repurchase program. The plan was announced in August 2021, authorizing FSFG to repurchase up to 0.36 million shares. As of Dec 31, 2023, approximately 0.23 million shares remained available.
First Savings Financial had total deposits of $1.7 billion, loans (net of allowances) worth 1.84 billion, and cash and cash equivalents (comprising cash and due from banks) of $33.4 million as of Dec 31, 2023. FSFG has decent liquidity and a strong balance sheet position, which are likely to help maintain its capital distribution plans.
In the past six months, shares of FSFG have risen 4.6% against the industry’s decline of 7.2%.
Earlier this week, Red River Bancshares, Inc. (RRBI - Free Report) announced a quarterly cash dividend of 9 cents per share, indicating a 12.5% increase from the prior level. This dividend will be paid out on Mar 21, 2024, to shareholders of record as of Mar 11.
Prior to this, RRBI had hiked its dividend by 14.3% to 8 cents per share on Feb 23, 2023. It has increased its dividend payout thrice in the past five years.
Earlier this month, WaFd, Inc. (WAFD - Free Report) announced a quarterly cash dividend of 26 cents per share, marking an increase of 4% from the prior figure. This dividend will be paid out on Mar 8, 2024, to shareholders of record as of Feb 23.
Prior to this, WAFD had hiked its dividend by 4.2% to 25 cents per share on Mar 10, 2023. The company has increased its dividend payout six times in the past five years.
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First Savings Financial (FSFG) Announces 7.1% Rise in Dividend
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. The company has a five-year annualized dividend growth rate of 31.25%. Currently, the company’s payout ratio is 30% of its earnings.
Based on its closing price of $16.70 per share on Feb 28, 2024, First Savings Financial currently has an annual dividend yield of 3.41%.
Additionally, the company has an ongoing share repurchase program. The plan was announced in August 2021, authorizing FSFG to repurchase up to 0.36 million shares. As of Dec 31, 2023, approximately 0.23 million shares remained available.
First Savings Financial had total deposits of $1.7 billion, loans (net of allowances) worth 1.84 billion, and cash and cash equivalents (comprising cash and due from banks) of $33.4 million as of Dec 31, 2023. FSFG has decent liquidity and a strong balance sheet position, which are likely to help maintain its capital distribution plans.
In the past six months, shares of FSFG have risen 4.6% against the industry’s decline of 7.2%.
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Currently, FSFG carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Banks Taking Similar Steps
Earlier this week, Red River Bancshares, Inc. (RRBI - Free Report) announced a quarterly cash dividend of 9 cents per share, indicating a 12.5% increase from the prior level. This dividend will be paid out on Mar 21, 2024, to shareholders of record as of Mar 11.
Prior to this, RRBI had hiked its dividend by 14.3% to 8 cents per share on Feb 23, 2023. It has increased its dividend payout thrice in the past five years.
Earlier this month, WaFd, Inc. (WAFD - Free Report) announced a quarterly cash dividend of 26 cents per share, marking an increase of 4% from the prior figure. This dividend will be paid out on Mar 8, 2024, to shareholders of record as of Feb 23.
Prior to this, WAFD had hiked its dividend by 4.2% to 25 cents per share on Mar 10, 2023. The company has increased its dividend payout six times in the past five years.