Salisbury Bancorp, Inc. (NASDAQ:SAL) sees a significant drop in short-term interest

Salisbury Bancorp, Inc. (NASDAQ:SAL – Get Rating) benefited from a significant drop in short interest in July. As of July 31, there was short interest totaling 5,700 shares, down 32.1% from the July 15 total of 8,400 shares. Based on an average trading volume of 6,400 shares, the day-to-cover ratio is currently 0.9 days.

Insiders place their bets

Separately, Executive Vice President Steven M. Essex sold 700 shares in a trade dated Wednesday, June 8. The shares were sold at an average price of $52.12, for a total value of $36,484.00. Following the transaction, the executive vice president now directly owns 500 shares of the company, valued at $26,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders hold 8.79% of the shares of the company.

Institutional investors weigh in on Salisbury Bancorp

Hedge funds have recently changed their positions in the stock. MCF Advisors LLC acquired a new equity stake in Salisbury Bancorp in Q1 worth approximately $25,000. Asset Dedication LLC bought a new position in Salisbury Bancorp in Q1 worth around $33,000. Resources Management Corp CT ADV increased its stake in Salisbury Bancorp by 37.7% in the second quarter. Resources Management Corp CT ADV now owns 1,825 shares of the bank valued at $86,000 after buying 500 more shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Salisbury Bancorp in Q4 valued at around $200,000. Finally, Maltese Capital Management LLC increased its stake in Salisbury Bancorp by 15.2% in the 4th quarter. Maltese Capital Management LLC now owns 5,760 shares of the bank valued at $316,000 after buying an additional 760 shares in the last quarter. 23.11% of the shares are currently held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

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Separately, launched coverage of Salisbury Bancorp shares in a research note on Tuesday. They issued a “hold” rating on the stock.

Salisbury Bancorp price performance

Salisbury Bancorp stock traded down $0.10 during trading hours on Friday, hitting $23.50. 1,669 shares were traded, against an average volume of 4,720. The company has a market capitalization of $135.60 million, a P/E ratio of 9.07 and a beta of 0.74. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 0.23. Salisbury Bancorp has a 12-month low of $22.50 and a 12-month high of $29.95. The stock has a 50-day moving average of $24.06 and a two-hundred-day moving average of $17.52.

Salisbury Bancorp (NASDAQ:SAL – Get Rating) last reported quarterly earnings data on Wednesday, July 20. The bank reported earnings per share (EPS) of $0.66 for the quarter, missing analyst consensus estimates of $0.72 per ($0.06). The company posted revenue of $14.17 million for the quarter, versus analyst estimates of $13.80 million. Salisbury Bancorp had a return on equity of 11.12% and a net margin of 25.89%. Equity analysts expect Salisbury Bancorp to post EPS of 2.82 for the current financial year.

Salisbury Bancorp increases its dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 26. Shareholders of record on Friday August 12 will receive a dividend of $0.16. This is an increase from Salisbury Bancorp’s previous quarterly dividend of $0.08. This represents a dividend of $0.64 on an annualized basis and a dividend yield of 2.72%. The ex-date of this dividend is Thursday, August 11. Salisbury Bancorp’s dividend payout ratio (DPR) is currently 24.71%.

About Salisbury Bancorp

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Salisbury Bancorp, Inc operates as a bank holding company for Salisbury Bank and Trust Company which provides commercial banking, consumer finance, retail banking, and trust and wealth advisory services. It offers various deposit products to individuals and businesses. The company also provides loans, such as residential and commercial real estate loans; building loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, secured loans, and auto and personal installment loans.

Further reading

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