Salisbury Bancorp (SAL) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Salisbury Bancorp (NASDAQ:SAL) from a sell rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $50.00 target price on the bank’s stock.
According to Zacks, “Salisbury Bancorp, Inc. is a holding company that operates through its wholly owned subsidiary, Salisbury Bank and Trust Company. The Company’s products and services are all of a nature of a commercial bank and trust company. The Bank is a full-service bank offering a range of commercial and personal banking services. The Bank is engaged in the business of attracting deposits from the general public and investing those deposits in residential and commercial real estate, consumer and small business loans. It also offers trust and investment services. The Company operates offices located in Canaan, Lakeville, Salisbury, and Sharon, Connecticut, as well as in Sheffield and South Egremont, Massachusetts, and Dover Plains, New York; and a trust and investment services division in Lakeville, Connecticut. Salisbury Bancorp is headquartered in Lakeville, Connecticut. “
SAL has been the subject of a number of other research reports. FIG Partners reaffirmed an outperform rating and set a $51.00 price target (up previously from $48.50) on shares of Salisbury Bancorp in a research report on Thursday, September 14th. ValuEngine cut Salisbury Bancorp from a buy rating to a hold rating in a research report on Friday, December 15th.
Shares of Salisbury Bancorp (NASDAQ:SAL) opened at $45.05 on Tuesday. Salisbury Bancorp has a 52-week low of $37.00 and a 52-week high of $50.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $129.68, a PE ratio of 18.77 and a beta of 0.69.
In other news, Director Charles M. Andola sold 800 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $45.66, for a total value of $36,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Gordon sold 892 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $45.25, for a total value of $40,363.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,357 shares of company stock valued at $107,614. 19.14% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of SAL. ZPR Investment Management acquired a new position in shares of Salisbury Bancorp in the 2nd quarter valued at about $203,000. Shufro Rose & Co. LLC acquired a new position in shares of Salisbury Bancorp in the 3rd quarter valued at about $209,000. Dimensional Fund Advisors LP lifted its holdings in shares of Salisbury Bancorp by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock valued at $1,066,000 after buying an additional 490 shares during the period. Kennedy Capital Management Inc. lifted its holdings in shares of Salisbury Bancorp by 1.0% in the 2nd quarter. Kennedy Capital Management Inc. now owns 23,758 shares of the bank’s stock valued at $975,000 after buying an additional 231 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Salisbury Bancorp by 3.7% in the 2nd quarter. LSV Asset Management now owns 6,400 shares of the bank’s stock valued at $265,000 after buying an additional 231 shares during the period. 9.86% of the stock is owned by institutional investors and hedge funds.
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About Salisbury Bancorp
Salisbury Bancorp, Inc is a bank holding company for Salisbury Bank and Trust Company (the Bank). The Bank is a Connecticut-chartered and Federal Deposit Insurance Corporation (the FDIC) insured commercial bank. The Bank provides commercial banking, consumer financing, retail banking and trust and wealth advisory services through a network of over 10 banking offices and approximately nine automated teller machines (ATMs).
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