Salisbury Bancorp, Inc. (NASDAQ:SAL – Get a rating) declared a quarterly dividend on Wednesday, July 20, Zacks reports. Shareholders of record on Friday August 12 will receive a dividend of 0.16 per share from the bank on Friday August 26. This represents an annualized dividend of $0.64 and a yield of 2.78%. The ex-date of this dividend is Thursday, August 11. This is an increase from Salisbury Bancorp’s previous quarterly dividend of $0.08.
Salisbury Bancorp has increased its dividend by an average of 2.6% per year over the past three years and has increased its dividend every year for the past 3 years. Salisbury Bancorp has a dividend payout ratio of 20.3%, meaning its dividend is sufficiently covered by earnings. Research analysts expect Salisbury Bancorp to earn $3.15 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.64 with a ratio of expected future payout of 20.3%.
Salisbury Bancorp share performance
SAL stock opened at $23.06 on Friday. The company’s 50-day moving average price is $21.72 and its two-hundred-day moving average price is $16.47. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 0.23. The company has a market capitalization of $133.06 million, a PE ratio of 8.90 and a beta of 0.79. Salisbury Bancorp has a 1 year minimum of $22.50 and a 1 year maximum of $29.95.
Salisbury Bancorp (NASDAQ:SAL – Get a rating) last released its quarterly results on Wednesday, July 20. The bank reported EPS of $0.66 for the quarter, missing analyst consensus estimates of $0.72 per ($0.06). Salisbury Bancorp had a net margin of 25.89% and a return on equity of 11.12%. As a group, research analysts expect Salisbury Bancorp to post earnings per share of 2.81 for the current year.
Insider activity
In other news, EVP Steven M. Essex sold 700 shares of the company in a transaction that took place on Wednesday, June 8. The stock was sold at an average price of $52.12, for a total value of $36,484.00. Following the transaction, the executive vice president now owns 500 shares of the company, valued at $26,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. 8.79% of the shares are held by insiders of the company.
Institutional investors weigh in on Salisbury Bancorp
A number of large investors have recently increased or reduced their stakes in the stock. State Street Corp increased its stake in Salisbury Bancorp by 13.8% during the first quarter. State Street Corp now owns 10,845 shares of the bank worth $607,000 after buying 1,312 more shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Salisbury Bancorp by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 42,097 shares of the bank worth $2,357,000 after buying 914 additional shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Salisbury Bancorp by 1.9% during the first quarter. Vanguard Group Inc. now owns 97,300 shares of the bank worth $5,520,000 after buying 1,861 additional shares in the last quarter. Institutional investors and hedge funds own 23.11% of the company’s shares.
Wall Street analysts predict growth
Separately, StockNews.com launched a cover on Salisbury Bancorp in a report on Saturday July 16. They have set a “holding” rating on the stock.
Salisbury Bancorp Company Profile
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.
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