Southern Michigan Bancorp (OTCMKTS:SOMC) Releases Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.59 earnings per share for the quarter, reports. The firm had revenue of $12.04 million for the quarter. Southern Michigan Bancorp had a net margin of 13.62% and a return on equity of 11.33%.

Southern Michigan Bancorp Trading Up 5.8 %

Shares of SOMC stock opened at $17.99 on Friday. The company’s 50-day moving average price is $17.37 and its 200-day moving average price is $16.70. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.45. The stock has a market cap of $82.39 million, a price-to-earnings ratio of 7.30 and a beta of 0.28. Southern Michigan Bancorp has a twelve month low of $15.15 and a twelve month high of $20.50.

Southern Michigan Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a dividend of $0.15 per share. This is a boost from Southern Michigan Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 3.34%. Southern Michigan Bancorp’s payout ratio is presently 25.75%.

Southern Michigan Bancorp Company Profile

Southern Michigan Bancorp, Inc operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest Michigan communities. Its deposit products include interest and non-interest checking, savings, and various types of money market accounts; time, savings, and demand deposits; and certificates of deposit and IRAs.