Pathfinder Bancorp, Inc. (NASDAQ:PBHC) Sees Large Increase in Short Interest

Key Points

• Short interest rose 30.5% to 8,863 shares as of April 15, equal to about 0.2% of shares and a short-interest ratio of 2.9 days.
• Weiss Ratings downgraded Pathfinder Bancorp to a "sell" and MarketBeat's average analyst rating for the stock is currently "Sell."
• The company reported $0.38 EPS for the quarter with negative return on equity and net margin, and declared a $0.10 quarterly dividend (annualized yield ~3.0%).

Pathfinder Bancorp, Inc. (NASDAQ:PBHC - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 8,863 shares, an increase of 30.5% from the March 31st total of 6,793 shares. Based on an average trading volume of 3,021 shares, the short-interest ratio is presently 2.9 days. Currently, 0.2% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Pathfinder Bancorp from a "hold (c)" rating to a "sell (d)" rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pathfinder Bancorp currently has an average rating of "Sell".

Insider Activity

In other news, Director Adam C. Gagas acquired 1,950 shares of the business's stock in a transaction that occurred on Friday, February 13th. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $26,812.50. Following the completion of the acquisition, the director owned 17,756 shares in the company, valued at approximately $244,145. The trade was a 12.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On Pathfinder Bancorp

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Pathfinder Bancorp in the second quarter valued at approximately $52,000. Osaic Holdings Inc. raised its position in shares of Pathfinder Bancorp by 102.1% in the second quarter. Osaic Holdings Inc. now owns 33,803 shares of the savings and loans company's stock valued at $537,000 after purchasing an additional 17,079 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Pathfinder Bancorp by 26.1% in the third quarter. Alliancebernstein L.P. now owns 446,053 shares of the savings and loans company's stock valued at $6,992,000 after purchasing an additional 92,397 shares during the period. Institutional investors own 26.73% of the company's stock.

Pathfinder Bancorp Stock Down 1.9%

NASDAQ PBHC traded down $0.26 during trading on Wednesday, hitting $13.34. 67 shares of the company traded hands, compared to its average volume of 1,762. Pathfinder Bancorp has a 12 month low of $12.06 and a 12 month high of $16.50. The business has a fifty day simple moving average of $13.42 and a 200 day simple moving average of $14.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $65.05 million, a P/E ratio of -22.23 and a beta of 0.12.

Pathfinder Bancorp (NASDAQ:PBHC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The savings and loans company reported $0.38 earnings per share for the quarter. Pathfinder Bancorp had a negative return on equity of 2.74% and a negative net margin of 4.16%.The company had revenue of $11.49 million for the quarter.

Pathfinder Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 17th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $0.40 dividend on an annualized basis and a yield of 3.0%. Pathfinder Bancorp's dividend payout ratio is presently -66.67%.

About Pathfinder Bancorp

Pathfinder Bancorp, Inc is a bank holding company headquartered in northeastern Pennsylvania that operates primarily through its subsidiary, Pathfinder Bank. The company offers a broad range of commercial and consumer banking solutions, including checking and savings accounts, time deposits, certificates of deposit, and retirement accounts. Through its branch network, Pathfinder Bancorp serves individuals, small businesses, and community organizations across its local market.

In addition to traditional deposit products, Pathfinder Bancorp provides a variety of lending services such as commercial real estate loans, construction and land development financing, agricultural credits, equipment loans, and consumer installment loans.

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