Southern Michigan Bancorp (OTCMKTS:SOMC) Announces Quarterly Earnings Results

Southern Michigan Bancorp (OTCMKTS:SOMC) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.59 EPS for the quarter, reports. Southern Michigan Bancorp had a net margin of 13.62% and a return on equity of 11.33%. The firm had revenue of $12.04 million for the quarter.

Southern Michigan Bancorp Trading Up 1.2 %

OTCMKTS SOMC opened at $17.00 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $77.86 million, a PE ratio of 7.30 and a beta of 0.28. Southern Michigan Bancorp has a one year low of $15.15 and a one year high of $20.50. The firm’s fifty day moving average is $17.38 and its two-hundred day moving average is $16.69.

Southern Michigan Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from Southern Michigan Bancorp’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 3.53%. Southern Michigan Bancorp’s payout ratio is currently 25.75%.

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.