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

Key Points

• Southern Michigan Bancorp Inc. experienced a significant drop in short interest, falling 66.7% from 600 shares at the end of July to just 200 shares by mid-August.
• The company's stock was trading at $23.72 with a market cap of $109.82 million and a price-to-earnings ratio of 9.49.
• Southern Michigan Bancorp declared a quarterly dividend of $0.16 per share, representing an annual yield of 2.7% and a payout ratio of 25.60%.

Southern Michigan Bancorp Inc. (OTCMKTS:SOMC - Get Free Report) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totaling 200 shares, adropof66.7% from the July 31st total of 600 shares. Based on an average daily volume of 1,200 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 1,200 shares, the short-interest ratio is currently 0.2 days.

Southern Michigan Bancorp Price Performance

Shares of OTCMKTS SOMC traded down $0.03 during midday trading on Thursday, hitting $23.72. 2,350 shares of the company's stock were exchanged, compared to its average volume of 3,381. Southern Michigan Bancorp has a 12-month low of $16.80 and a 12-month high of $25.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.10. The company has a market cap of $109.82 million, a price-to-earnings ratio of 9.49 and a beta of 0.11. The business's fifty day moving average price is $22.71 and its two-hundred day moving average price is $20.48.

Southern Michigan Bancorp (OTCMKTS:SOMC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter. The business had revenue of $14.45 million during the quarter. Southern Michigan Bancorp had a return on equity of 10.74% and a net margin of 13.02%.

Southern Michigan Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, July 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.7%. Southern Michigan Bancorp's payout ratio is 25.60%.

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.

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