Southern Michigan Bancorp (OTCMKTS:SOMC) Issues Earnings Results

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

Southern Michigan Bancorp Stock Performance

OTCMKTS SOMC opened at $17.99 on Friday. The firm has a market capitalization of $82.39 million, a P/E ratio of 7.30 and a beta of 0.28. Southern Michigan Bancorp has a 1-year low of $15.15 and a 1-year high of $20.50. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day simple moving average is $17.37 and its 200-day simple moving average is $16.70.

Southern Michigan Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Southern Michigan Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, April 4th. Southern Michigan Bancorp’s dividend payout ratio (DPR) is presently 25.75%.

About Southern Michigan Bancorp

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.