Zacks Investment Research Downgrades Salisbury Bancorp (NASDAQ:SAL) to Sell

Salisbury Bancorp (NASDAQ:SALGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, reports.

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. “

Separately, began coverage on Salisbury Bancorp in a research note on Wednesday. They set a “hold” rating for the company.

SAL opened at $53.79 on Wednesday. The stock has a 50-day moving average price of $55.34 and a 200-day moving average price of $53.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $154.70 million, a PE ratio of 10.00 and a beta of 0.75. Salisbury Bancorp has a 1 year low of $43.31 and a 1 year high of $59.90.

Salisbury Bancorp (NASDAQ:SALGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The bank reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.23). Salisbury Bancorp had a return on equity of 11.40% and a net margin of 27.34%. As a group, sell-side analysts anticipate that Salisbury Bancorp will post 6.08 EPS for the current year.

In related news, EVP Todd J. Rubino sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $56.50, for a total transaction of $56,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.88% of the company’s stock.

Several large investors have recently made changes to their positions in SAL. Asset Dedication LLC purchased a new position in Salisbury Bancorp in the 1st quarter worth approximately $33,000. Magnolia Capital Management Ltd. purchased a new position in Salisbury Bancorp in the 4th quarter worth approximately $59,000. Royal Bank of Canada lifted its holdings in Salisbury Bancorp by 1,007.3% in the 3rd quarter. Royal Bank of Canada now owns 1,517 shares of the bank’s stock worth $77,000 after purchasing an additional 1,380 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Salisbury Bancorp in the 4th quarter worth approximately $200,000. Finally, Maltese Capital Management LLC purchased a new position in Salisbury Bancorp in the 3rd quarter worth approximately $254,000. Institutional investors own 23.04% of the company’s stock.

About Salisbury Bancorp (Get Rating)

Salisbury Bancorp, Inc operates as the bank holding company for Salisbury Bank and Trust Company that provides commercial banking, consumer financing, retail banking, and trust and wealth advisory services. It offers various retail and commercial deposit products. The company also provides loans, such as residential and commercial real estate loans; construction loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, collateral loans, and auto and personal installment loans.

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