Zacks Investment Research Lowers Salisbury Bancorp, Inc. (SAL) to Hold
Zacks Investment Research downgraded shares of Salisbury Bancorp, Inc. (NASDAQ:SAL) from a buy rating to a hold rating in a research report report published on Tuesday morning.
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. “
Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Salisbury Bancorp from a hold rating to a buy rating in a research note on Friday, June 9th. FIG Partners restated an outperform rating and set a $51.00 target price (up previously from $48.50) on shares of Salisbury Bancorp in a research note on Thursday, September 14th.
Salisbury Bancorp (SAL) traded down 1.63% on Tuesday, reaching $46.80. 713 shares of the company’s stock were exchanged. The firm has a market cap of $128.98 million, a PE ratio of 18.80 and a beta of 0.66. Salisbury Bancorp has a 12 month low of $30.75 and a 12 month high of $50.00. The firm’s 50-day moving average is $44.89 and its 200-day moving average is $41.56.
Salisbury Bancorp (NASDAQ:SAL) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The firm had revenue of $9.72 million during the quarter, compared to analysts’ expectations of $10.30 million. Salisbury Bancorp had a net margin of 15.96% and a return on equity of 7.28%. On average, equities analysts forecast that Salisbury Bancorp will post $2.52 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of SAL. ZPR Investment Management acquired a new stake in Salisbury Bancorp in the 2nd quarter worth about $203,000. Dimensional Fund Advisors LP raised its stake in Salisbury Bancorp by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock worth $1,066,000 after purchasing an additional 490 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in Salisbury Bancorp by 1.0% in the 2nd quarter. Kennedy Capital Management Inc. now owns 23,758 shares of the bank’s stock worth $975,000 after purchasing an additional 231 shares in the last quarter. Finally, LSV Asset Management raised its stake in Salisbury Bancorp by 3.7% in the 2nd quarter. LSV Asset Management now owns 6,400 shares of the bank’s stock worth $265,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 9.67% of the company’s stock.
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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