Salisbury Bancorp (NASDAQ:SAL) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $50.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.41% from the company’s previous close.
According to Zacks, “Salisbury Bancorp, Inc. is a holding company that operates through its wholly owned subsidiary, Salisbury Bank and Trust Company. The Company’s products and services are all of a nature of a commercial bank and trust company. The Bank is a full-service bank offering a range of commercial and personal banking services. The Bank is engaged in the business of attracting deposits from the general public and investing those deposits in residential and commercial real estate, consumer and small business loans. It also offers trust and investment services. The Company operates offices located in Canaan, Lakeville, Salisbury, and Sharon, Connecticut, as well as in Sheffield and South Egremont, Massachusetts, and Dover Plains, New York; and a trust and investment services division in Lakeville, Connecticut. Salisbury Bancorp is headquartered in Lakeville, Connecticut. “
A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Salisbury Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 15th. FIG Partners restated an “outperform” rating and issued a $51.00 price target (up previously from $48.50) on shares of Salisbury Bancorp in a report on Thursday, September 14th.
In related news, Director Charles M. Andola sold 800 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $45.66, for a total value of $36,528.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael D. Gordon sold 892 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $45.25, for a total value of $40,363.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,357 shares of company stock worth $107,614. Insiders own 19.14% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Salisbury Bancorp by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock valued at $1,066,000 after buying an additional 490 shares during the last quarter. Kennedy Capital Management Inc. grew its holdings in Salisbury Bancorp by 1.0% during the 2nd quarter. Kennedy Capital Management Inc. now owns 23,758 shares of the bank’s stock valued at $975,000 after buying an additional 231 shares during the last quarter. LSV Asset Management grew its holdings in Salisbury Bancorp by 3.7% during the 2nd quarter. LSV Asset Management now owns 6,400 shares of the bank’s stock valued at $265,000 after buying an additional 231 shares during the last quarter. ZPR Investment Management acquired a new stake in Salisbury Bancorp during the 2nd quarter valued at $203,000. Finally, Shufro Rose & Co. LLC acquired a new stake in Salisbury Bancorp during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 9.86% of the company’s stock.
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About Salisbury Bancorp
Salisbury Bancorp, Inc is a bank holding company for Salisbury Bank and Trust Company (the Bank). The Bank is a Connecticut-chartered and Federal Deposit Insurance Corporation (the FDIC) insured commercial bank. The Bank provides commercial banking, consumer financing, retail banking and trust and wealth advisory services through a network of over 10 banking offices and approximately nine automated teller machines (ATMs).
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