Salisbury Bancorp, Inc. (SAL) Raised to “Buy” at Zacks Investment Research
Salisbury Bancorp, Inc. (NASDAQ:SAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $52.00 price target on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.56% from the company’s current price.
According to Zacks, “Salisbury Bancorp, Inc. is a holding company that operates through its wholly owned subsidiary, Salisbury Bank and Trust Company. The Company’s products and services are all of a nature of a commercial bank and trust company. The Bank is a full-service bank offering a range of commercial and personal banking services. The Bank is engaged in the business of attracting deposits from the general public and investing those deposits in residential and commercial real estate, consumer and small business loans. It also offers trust and investment services. The Company operates offices located in Canaan, Lakeville, Salisbury, and Sharon, Connecticut, as well as in Sheffield and South Egremont, Massachusetts, and Dover Plains, New York; and a trust and investment services division in Lakeville, Connecticut. Salisbury Bancorp is headquartered in Lakeville, Connecticut. “
Several other brokerages have also recently weighed in on SAL. ValuEngine upgraded Salisbury Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. FIG Partners assumed coverage on Salisbury Bancorp in a research report on Tuesday, June 6th. They set an “outperform” rating and a $48.00 price target on the stock.
Salisbury Bancorp (NASDAQ SAL) traded down 2.39% during trading on Thursday, reaching $45.00. 5,504 shares of the company’s stock traded hands. Salisbury Bancorp has a 52-week low of $30.50 and a 52-week high of $50.00. The company’s 50 day moving average is $43.70 and its 200-day moving average is $40.82. The stock has a market cap of $124.02 million, a price-to-earnings ratio of 18.07 and a beta of 0.64.
Salisbury Bancorp (NASDAQ:SAL) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. Salisbury Bancorp had a return on equity of 7.28% and a net margin of 15.96%. The firm had revenue of $9.72 million for the quarter, compared to analysts’ expectations of $10.30 million. On average, analysts anticipate that Salisbury Bancorp will post $2.52 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of SAL. ZPR Investment Management bought a new position in shares of Salisbury Bancorp in the second quarter worth approximately $203,000. LSV Asset Management increased its position in shares of Salisbury Bancorp by 3.7% in the second quarter. LSV Asset Management now owns 6,400 shares of the bank’s stock worth $265,000 after purchasing an additional 231 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of Salisbury Bancorp by 1.0% in the second quarter. Kennedy Capital Management Inc. now owns 23,758 shares of the bank’s stock worth $975,000 after purchasing an additional 231 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Salisbury Bancorp by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 25,711 shares of the bank’s stock worth $1,066,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 9.67% of the company’s stock.
Salisbury Bancorp Company Profile
Salisbury Bancorp, Inc is a bank holding company for Salisbury Bank and Trust Company (the Bank). The Bank is a Connecticut-chartered and Federal Deposit Insurance Corporation (the FDIC) insured commercial bank. The Bank provides commercial banking, consumer financing, retail banking and trust and wealth advisory services through a network of over 10 banking offices and approximately nine automated teller machines (ATMs).
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