Salisbury Bancorp, Inc. (NASDAQ: SAL – Get a rating) benefited from a sharp rise in short-term interest rates in June. As of June 30, there was short interest totaling 7,000 shares, an increase of 89.2% from the total of 3,700 shares as of June 15. Based on an average daily volume of 6,000 shares, the short interest ratio is currently 1.2 days.
Salisbury Bancorp share performance
Shares of SAL traded down $0.26 during the midday session on Friday, hitting $23.14. 2,373 shares of the company were traded, against an average volume of 8,638. The company has a market capitalization of $133.52 million, a price-earnings ratio of 8.60 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt ratio of 0.23. Salisbury Bancorp has a 52-week minimum of $22.50 and a 52-week maximum of $29.95. The stock’s 50-day simple moving average is $20.86 and its 200-day simple moving average is $16.19.
Salisbury Bancorp (NASDAQ:SAL – Get a rating) last reported results on Wednesday, April 20. The bank reported earnings per share (EPS) of $0.31 for the quarter, missing the consensus estimate of $0.36 per ($0.05). Salisbury Bancorp had a net margin of 27.34% and a return on equity of 11.40%. The company posted revenue of $13.40 million in the quarter, versus analyst estimates of $13.80 million. On average, equity research analysts expect Salisbury Bancorp to post EPS of 2.81 for the current year.
Salisbury Bancorp cuts its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.08. This represents an annualized dividend of $0.32 and a yield of 1.38%. The ex-dividend date was Thursday, May 12. Salisbury Bancorp’s dividend payout ratio (DPR) is currently 23.79%.
Insiders place their bets
In other news, EVP Steven M. Essex sold 700 shares in a trade dated Wednesday, June 8. The shares were sold at an average price of $52.12, for a total transaction of $36,484.00. Following the completion of the transaction, the executive vice president now directly owns 500 shares of the company, valued at approximately $26,060. The transaction was disclosed in an SEC filing, available at this link. Company insiders hold 8.79% of the company’s shares.
Institutional investors weigh in on Salisbury Bancorp
Several hedge funds and other institutional investors have recently changed their positions in the company. State Street Corp increased its position in shares of Salisbury Bancorp by 13.8% during the first quarter. State Street Corp now owns 10,845 shares of the bank worth $607,000 after acquiring 1,312 more shares last quarter. Vanguard Group Inc. increased its position in Salisbury Bancorp shares by 1.9% during the first quarter. Vanguard Group Inc. now owns 97,300 shares of the bank worth $5,520,000 after acquiring 1,861 additional shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Salisbury Bancorp by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 42,097 shares of the bank worth $2,357,000 after acquiring 914 additional shares in the last quarter. FJ Capital Management LLC increased its position in Salisbury Bancorp shares by 5.0% during the first quarter. FJ Capital Management LLC now owns 192,204 shares of the bank worth $10,904,000 after acquiring 9,204 additional shares last quarter. Finally, MCF Advisors LLC purchased a new equity stake in Salisbury Bancorp during the first quarter for approximately $25,000. 23.11% of the shares are held by institutional investors.
A Wall Street analyst gives his opinion
Separately, StockNews.com launched a hedge on Salisbury Bancorp shares in a research note on Saturday. They issued a “hold” rating for the company.
About Salisbury Bancorp
Salisbury Bancorp, Inc operates as a bank holding company for Salisbury Bank and Trust Company which provides commercial banking, consumer finance, retail banking, and trust and wealth advisory services. It offers various deposit products to individuals and businesses. The company also provides loans, such as residential and commercial real estate loans; building loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, secured loans, and auto and personal installment loans.
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