Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC) Sees Significant Drop in Short Interest

Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 100 shares, a decrease of 75.0% from the February 29th total of 400 shares. Based on an average daily volume of 4,900 shares, the short-interest ratio is currently 0.0 days.

Southern Michigan Bancorp Trading Up 3.5 %

OTCMKTS SOMC traded up $0.58 during trading hours on Thursday, hitting $17.25. The company’s stock had a trading volume of 797 shares, compared to its average volume of 4,290. The stock has a fifty day moving average of $17.62 and a 200 day moving average of $16.76. Southern Michigan Bancorp has a twelve month low of $15.15 and a twelve month high of $20.50. The firm has a market capitalization of $77.97 million, a P/E ratio of 7.19 and a beta of 0.29. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.46.

Southern Michigan Bancorp (OTCMKTS:SOMC) last announced its quarterly earnings data on Monday, February 12th. The financial services provider reported $0.54 earnings per share for the quarter. Southern Michigan Bancorp had a net margin of 14.88% and a return on equity of 11.98%. The business had revenue of $12.41 million for the quarter.

Southern Michigan Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Southern Michigan Bancorp’s previous quarterly dividend of $0.14. Southern Michigan Bancorp’s dividend payout ratio is presently 23.33%.

Southern Michigan Bancorp Company Profile

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.