Zacks: Salisbury Bancorp, Inc. (SAL) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of Salisbury Bancorp, Inc. (NASDAQ:SAL) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $51.00 for the company and are predicting that the company will post $0.74 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Salisbury Bancorp an industry rank of 168 out of 265 based on the ratings given to related companies.

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Several analysts have recently weighed in on the company. Zacks Investment Research cut Salisbury Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. ValuEngine cut Salisbury Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 15th.

In related news, Director Holly J. Nelson sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $49.18, for a total value of $44,262.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Gordon sold 1,535 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $45.50, for a total value of $69,842.50. The disclosure for this sale can be found here. Insiders own 19.14% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Salisbury Bancorp by 1.9% in 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 in the last quarter. Shufro Rose & Co. LLC purchased a new position in shares of Salisbury Bancorp in the 3rd quarter valued at about $209,000. Finally, Mutual Advisors LLC purchased a new position in shares of Salisbury Bancorp in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 9.62% of the company’s stock.

Shares of Salisbury Bancorp (SAL) traded down $0.90 during midday trading on Tuesday, reaching $47.23. The company’s stock had a trading volume of 497 shares, compared to its average volume of 1,044. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $131.60, a P/E ratio of 21.18 and a beta of 0.55. Salisbury Bancorp has a 12-month low of $37.55 and a 12-month high of $51.80.

Salisbury Bancorp (NASDAQ:SAL) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.21. The company had revenue of $10.21 million for the quarter, compared to analysts’ expectations of $10.20 million. Salisbury Bancorp had a return on equity of 7.80% and a net margin of 14.13%. equities research analysts forecast that Salisbury Bancorp will post 3.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, February 8th. Salisbury Bancorp’s dividend payout ratio (DPR) is currently 50.22%.

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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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