Zacks Investment Research lowered shares of Salisbury Bancorp (NASDAQ:SAL) from a buy rating to a hold rating in a research note published on Wednesday.
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. “
Separately, ValuEngine cut Salisbury Bancorp from a buy rating to a hold rating in a report on Friday, December 15th.
Salisbury Bancorp (NASDAQ:SAL) last released its quarterly earnings data on Friday, January 26th. The bank reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.21. Salisbury Bancorp had a return on equity of 7.82% and a net margin of 14.13%. The business had revenue of $10.21 million for the quarter, compared to analysts’ expectations of $10.20 million. equities analysts anticipate that Salisbury Bancorp will post 3.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 8th. Salisbury Bancorp’s payout ratio is 50.22%.
In other Salisbury Bancorp news, Director Michael D. Gordon sold 1,535 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $45.50, for a total value of $69,842.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Holly J. Nelson sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $49.18, for a total value of $44,262.00. The disclosure for this sale can be found here. Insiders own 19.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAL. Mutual Advisors LLC acquired a new position in shares of Salisbury Bancorp during the 4th quarter worth approximately $208,000. Shufro Rose & Co. LLC acquired a new position in shares of Salisbury Bancorp during the 3rd quarter worth approximately $209,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Salisbury Bancorp by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock worth $1,066,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 10.08% of the company’s stock.
Salisbury Bancorp Company Profile
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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