Short Interest in Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC) Sees 100% Increase

In January, Southern Michigan Bancorp, Inc. (OTCMKTS:SOMC - Get Free Report) experienced a significant increase in short interest. By January 31st, the short interest reached a total of 200 shares, which is a remarkable increase of 100.0% compared to the total of 100 shares recorded on January 15th. Given the average daily trading volume of 3,400 shares, the current short-interest ratio stands at just 0.1 days.

Performance of Southern Michigan Bancorp

During midday trading on Friday, Southern Michigan Bancorp's stock price remained steady at $19.20. The company has a fifty-day simple moving average of $19.03 and a two-hundred-day simple moving average of $18.06. With a market capitalization of $87.74 million, it has a price-to-earnings (P/E) ratio of 8.53 and a beta of 0.27. The debt-to-equity ratio is at 1.29, with both a current ratio and quick ratio of 0.93. Over the past year, the stock has seen a low of $15.60 and a high of $19.50.

On February 14th, Southern Michigan Bancorp released its earnings results. The company reported earnings per share (EPS) of $0.57 for the quarter. With a net margin of 12.27% and a return on equity of 10.19%, the business generated revenue of $12.95 million in this period.

Dividend Announcement by Southern Michigan Bancorp

The company recently declared a quarterly dividend, which was distributed on January 24th. Stockholders who were on record as of January 10th received a dividend payment of $0.15 per share. This translates to an annualized dividend of $0.60, offering a dividend yield of 3.13%. The ex-dividend date for this distribution was January 10th, and the payout ratio currently stands at 26.67%.

Overview of Southern Michigan Bancorp

Southern Michigan Bancorp, Inc. operates as the bank holding company for Southern Michigan Bank & Trust, which provides a variety of commercial banking services to individuals, businesses, institutions, and government entities, primarily in southwest Michigan. The bank offers various deposit products, including interest-bearing and non-interest-bearing checking, savings accounts, and different types of money market accounts, as well as certificates of deposit and Individual Retirement Accounts (IRAs).

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