Southern Michigan Bancorp (OTCMKTS:SOMC) Posts Earnings Results

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

Southern Michigan Bancorp Trading Down 0.6%

Shares of OTCMKTS SOMC traded down $0.15 during mid-day trading on Friday, hitting $23.60. 425 shares of the company traded hands, compared to its average volume of 1,925. Southern Michigan Bancorp has a 1 year low of $16.26 and a 1 year high of $23.94. The stock has a market capitalization of $109.27 million, a price-to-earnings ratio of 9.44 and a beta of 0.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average of $21.10 and a two-hundred day moving average of $19.63.

Southern Michigan Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, July 7th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.71%. Southern Michigan Bancorp's dividend payout ratio is currently 25.60%.

About Southern Michigan Bancorp

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.