Southern Michigan Bancorp (OTCMKTS:SOMC) Posts Quarterly Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC - Get Free Report) posted its earnings results on Friday. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $12.95 million during the quarter. Southern Michigan Bancorp had a net margin of 12.27% and a return on equity of 10.19%.

Southern Michigan Bancorp Price Performance

Shares of OTCMKTS SOMC remained flat at $19.20 during trading hours on Tuesday. 2,565 shares of the company traded hands, compared to its average volume of 6,236. Southern Michigan Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $19.50. The business's 50 day moving average is $19.02 and its 200 day moving average is $18.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.29. The stock has a market cap of $87.80 million, a price-to-earnings ratio of 8.53 and a beta of 0.27.

Southern Michigan Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, January 10th. Southern Michigan Bancorp's payout ratio is 26.32%.

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.