Salisbury Bancorp, Inc. (NASDAQ:SAL) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 15,500 shares, a decline of 26.2% from the August 15th total of 21,000 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 13,400 shares, the days-to-cover ratio is presently 1.2 days.
In other Salisbury Bancorp news, EVP Steven M. Essex sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $48.50, for a total value of $48,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.88% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Salisbury Bancorp by 6.4% in the 1st quarter. BlackRock Inc. now owns 160,115 shares of the bank’s stock valued at $7,111,000 after buying an additional 9,606 shares during the last quarter. FJ Capital Management LLC purchased a new stake in Salisbury Bancorp in the 2nd quarter valued at $7,458,000. Vanguard Group Inc. raised its position in Salisbury Bancorp by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 85,564 shares of the bank’s stock valued at $4,346,000 after buying an additional 3,617 shares during the last quarter. Banc Funds Co. LLC bought a new position in Salisbury Bancorp in the 2nd quarter valued at $2,201,000. Finally, Dimensional Fund Advisors LP grew its stake in Salisbury Bancorp by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 41,811 shares of the bank’s stock valued at $2,124,000 after purchasing an additional 2,324 shares during the period. 22.14% of the stock is owned by institutional investors and hedge funds.
Salisbury Bancorp (NASDAQ:SAL) last issued its earnings results on Tuesday, July 20th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. The company had revenue of $12.54 million for the quarter, compared to analyst estimates of $13.10 million. Salisbury Bancorp had a return on equity of 12.54% and a net margin of 28.81%. Sell-side analysts forecast that Salisbury Bancorp will post 5.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were given a $0.31 dividend. This is a positive change from Salisbury Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, August 12th. Salisbury Bancorp’s dividend payout ratio is presently 29.52%.
Separately, Zacks Investment Research raised Salisbury Bancorp from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Saturday, July 24th.
About Salisbury Bancorp
Salisbury Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, consumer financing, retail banking, and trust and wealth advisory services. Its products include checking accounts, savings and mortgage market accounts, mortgage loans, health savings account, and retirement account.
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