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

Southern Michigan Bancorp (OTCMKTS:SOMC) issued its quarterly earnings data on Friday. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, Zacks reports. Southern Michigan Bancorp had a net margin of 12.27% and a return on equity of 10.19%.

Southern Michigan Bancorp Stock Performance

Shares of Southern Michigan Bancorp stock traded up $0.10 during trading hours on Friday, hitting $19.20. 120 shares of the company were exchanged, compared to its average volume of 3,047. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average of $19.04 and a 200-day moving average of $18.05. Southern Michigan Bancorp has a 1 year low of $15.60 and a 1 year high of $19.50. The stock has a market capitalization of $87.74 million, a price-to-earnings ratio of 8.53 and a beta of 0.27.

Southern Michigan Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.13%. Southern Michigan Bancorp’s dividend payout ratio (DPR) is currently 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.