Zacks Investment Research upgraded shares of Salisbury Bancorp, Inc. (NASDAQ:SAL) from a hold rating to a buy rating in a research note published on Thursday. The firm currently has $52.00 price objective on the bank’s stock.
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. “
SAL has been the topic of several other reports. ValuEngine raised shares of Salisbury Bancorp from a hold rating to a buy rating in a research note on Friday, June 9th. FIG Partners initiated coverage on shares of Salisbury Bancorp in a research note on Tuesday, June 6th. They set an outperform rating and a $48.00 price target on the stock.
Shares of Salisbury Bancorp (SAL) traded up 3.80% during trading on Thursday, reaching $47.85. 420 shares of the company’s stock traded hands. The company has a market cap of $131.87 million, a price-to-earnings ratio of 19.22 and a beta of 0.64. Salisbury Bancorp has a 52-week low of $30.50 and a 52-week high of $50.00. The company’s 50-day moving average is $43.63 and its 200 day moving average is $40.78.
Salisbury Bancorp (NASDAQ:SAL) last announced its earnings results on Friday, July 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. Salisbury Bancorp had a net margin of 15.96% and a return on equity of 7.28%. The business had revenue of $9.72 million during the quarter, compared to analyst estimates of $10.30 million. Equities analysts forecast that Salisbury Bancorp will post $2.52 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Wednesday, August 9th. Salisbury Bancorp’s dividend payout ratio (DPR) is presently 44.98%.
Several hedge funds have recently bought and sold shares of SAL. ZPR Investment Management purchased a new position in shares of Salisbury Bancorp during the second quarter worth approximately $203,000. Dimensional Fund Advisors LP raised its stake in shares of Salisbury Bancorp by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock worth $1,066,000 after acquiring an additional 490 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Salisbury Bancorp by 1.0% during the second quarter. Kennedy Capital Management Inc. now owns 23,758 shares of the bank’s stock worth $975,000 after acquiring an additional 231 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Salisbury Bancorp by 3.7% during the second quarter. LSV Asset Management now owns 6,400 shares of the bank’s stock worth $265,000 after acquiring an additional 231 shares in the last quarter. 9.67% of the stock is currently owned by hedge funds and other institutional investors.
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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