Sound Financial Bancorp, Inc. (NASDAQ:SFBC) Sees Large Drop in Short Interest

Key Points

• Short interest fell 41.5% to 5,229 shares as of August 14, representing approximately 0.2% of SFBC’s outstanding shares and just 0.2 days to cover.
• SFBC shares rose 0.7% to $47.11, while the company recently reported quarterly EPS of $0.98 on $11.02 million in revenue and maintains a quarterly dividend of $0.21, or a 1.8% yield.
• Analyst sentiment remains neutral, with the stock carrying an average “Hold” rating; institutional investors own 68.85% of the company, while insiders own 12.30%.

Sound Financial Bancorp, Inc. (NASDAQ:SFBC - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 5,229 shares, a decrease of 41.5% from the July 30th total of 8,936 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 26,114 shares, the days-to-cover ratio is presently 0.2 days.

Sound Financial Bancorp Trading Up 0.7%

Shares of SFBC traded up $0.31 during midday trading on Monday, hitting $47.11. The stock had a trading volume of 2,873 shares, compared to its average volume of 9,395. The stock's 50 day moving average is $45.63 and its 200 day moving average is $43.81. The firm has a market cap of $121.06 million and a PE ratio of 15.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. Sound Financial Bancorp has a 1 year low of $40.68 and a 1 year high of $49.21.

Sound Financial Bancorp (NASDAQ:SFBC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $0.98 EPS for the quarter. The company had revenue of $11.02 million for the quarter. Sound Financial Bancorp had a net margin of 12.89% and a return on equity of 7.31%.

Sound Financial Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 7th. Sound Financial Bancorp's dividend payout ratio is presently 26.92%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Sound Financial Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Insider Buying and Selling at Sound Financial Bancorp

In related news, CEO Laura Lee Stewart sold 900 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $42.60, for a total value of $38,340.00. Following the sale, the chief executive officer owned 9,000 shares in the company, valued at approximately $383,400. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Sound Financial Bancorp

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Sound Financial Bancorp by 4,863.2% during the second quarter. Bank of America Corp DE now owns 943 shares of the bank's stock valued at $43,000 after purchasing an additional 924 shares during the period. JPMorgan Chase & Co. purchased a new stake in Sound Financial Bancorp in the 2nd quarter valued at about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Sound Financial Bancorp in the 2nd quarter worth about $54,000. Russell Investments Group Ltd. increased its position in shares of Sound Financial Bancorp by 168.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,387 shares of the bank's stock worth $61,000 after acquiring an additional 870 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Sound Financial Bancorp during the second quarter worth approximately $101,000. Institutional investors own 68.85% of the company's stock.

Sound Financial Bancorp Company Profile

Sound Financial Bancorp, Inc is a bank holding company and the parent of Sound Community Bank, a community‐oriented financial institution headquartered in University Place, Washington. Through its subsidiary, the company delivers a broad array of banking and financial services to individuals, small businesses and commercial clients throughout the Puget Sound region. Emphasizing relationship banking, Sound Financial Bancorp seeks to support local economic development by offering personalized service and community engagement.

The company's core offerings include deposit products such as checking and savings accounts, money market accounts and certificates of deposit, as well as a full spectrum of lending solutions.

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