Monarch Financial (MNRK) Releases Quarterly Earnings, Misses Expectations By $0.01 EPS
Monarch Financial (NASDAQ:MNRK) announced its earnings results on Thursday. The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.01, American Banking News.com reports.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Monarch Financial from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, October 7th. They now have a $11.00 price target on the stock.
Monarch Financial (NASDAQ:MNRK) opened at 11.38 on Thursday. Monarch Financial has a 52-week low of $7.9167 and a 52-week high of $13.35. The stock has a 50-day moving average of $11.84 and a 200-day moving average of $11.09. The company has a market cap of $115.8 million and a price-to-earnings ratio of 8.42.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.46%.
Monarch Financial Holdings, Inc is a bank holding company commercial and retail banking, investment and insurance sales, and mortgage origination and brokerage.
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