Southern Michigan Bancorp (OTCMKTS:SOMC) Shares Down 2.9% – Here’s Why

Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC)’s share price fell 2.9% on Friday . The stock traded as low as $18.65 and last traded at $18.70. 26,398 shares were traded during trading, an increase of 87% from the average session volume of 14,149 shares. The stock had previously closed at $19.25.

Southern Michigan Bancorp Stock Down 2.9 %

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $85.35 million, a price-to-earnings ratio of 8.31 and a beta of 0.27. The firm’s fifty day moving average is $18.89 and its 200-day moving average is $17.58.

Southern Michigan Bancorp (OTCMKTS:SOMC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter. The firm had revenue of $12.57 million for the quarter. Southern Michigan Bancorp had a return on equity of 10.19% and a net margin of 12.27%.

Southern Michigan Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, January 10th. Southern Michigan Bancorp’s dividend payout ratio (DPR) is presently 26.67%.

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.