SB Financial Group, Inc. (NASDAQ:SBFG) Short Interest Update

Key Points

• SB Financial Group experienced a significant 25.2% decrease in short interest, dropping from 131,000 shares to 98,000 shares as of August 31st.
• Director Timothy L. Claxton increased their holdings by 24.61% by acquiring 2,000 shares at an average price of $17.64, indicating insider confidence in the company.
• Hedge funds have shown increased interest, with notable investments from Bank of America and JPMorgan, leading to a significant boost in institutional ownership, now at 66.67% of the stock.

SB Financial Group, Inc. (NASDAQ:SBFG - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 98,000 shares, a drop of 25.2% from the August 15th total of 131,000 shares. Approximately 1.7% of the company's shares are short sold. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.7% of the company's shares are short sold.

Insider Buying and Selling

In other news, Director Timothy L. Claxton bought 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was acquired at an average cost of $17.64 per share, with a total value of $35,280.00. Following the completion of the purchase, the director owned 10,127 shares of the company's stock, valued at $178,640.28. This represents a 24.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.71% of the company's stock.

Hedge Funds Weigh In On SB Financial Group

A number of hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC boosted its stake in SB Financial Group by 0.8% in the second quarter. Bridgeway Capital Management LLC now owns 78,548 shares of the financial services provider's stock valued at $1,500,000 after acquiring an additional 589 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of SB Financial Group by 56.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,761 shares of the financial services provider's stock worth $119,000 after buying an additional 2,068 shares during the period. Bank of America Corp DE boosted its holdings in SB Financial Group by 4,732.7% in the 2nd quarter. Bank of America Corp DE now owns 2,658 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 2,603 shares during the period. JPMorgan Chase & Co. boosted its holdings in SB Financial Group by 23,475.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,829 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 2,817 shares during the period. Finally, Empowered Funds LLC raised its position in shares of SB Financial Group by 7.1% in the 1st quarter. Empowered Funds LLC now owns 42,469 shares of the financial services provider's stock valued at $884,000 after buying an additional 2,832 shares in the last quarter. 66.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised SB Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th.

SB Financial Group Price Performance

SB Financial Group stock traded down $0.07 during midday trading on Friday, reaching $21.06. 62,592 shares of the stock traded hands, compared to its average volume of 24,118. SB Financial Group has a 12 month low of $17.10 and a 12 month high of $24.48. The stock has a market cap of $133.31 million, a P/E ratio of 11.51 and a beta of 0.31. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average is $20.55 and its 200-day moving average is $19.67.

SB Financial Group (NASDAQ:SBFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.04. The business had revenue of $17.02 million during the quarter, compared to the consensus estimate of $11.80 million. SB Financial Group had a return on equity of 9.57% and a net margin of 13.78%. As a group, equities research analysts anticipate that SB Financial Group will post 2 EPS for the current year.

SB Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 15th. SB Financial Group's payout ratio is presently 32.79%.

SB Financial Group Company Profile

SB Financial Group, Inc operates as the financial holding company for the State Bank and Trust Company that provides a range of commercial banking and wealth management services to individual and corporate customers primarily in Ohio, Indiana, and Michigan. It offers checking, savings, money market accounts, as well as time certificates of deposit; and commercial, consumer, agricultural, and residential mortgage loans.