Southern Michigan Bancorp Inc. (OTCMKTS:SOMC) Shares Shorted: Short Interest Down 84.0% in October

Southern Michigan Bancorp Inc. (OTCMKTS:SOMC) was the recipient of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 57 shares, a drop of 84.0% from the October 15th total of 357 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,982 shares, the days-to-cover ratio is presently 0.0 days.

Southern Michigan Bancorp Stock Performance

SOMC remained flat at $29.70 during midday trading on Friday. 2 shares of the company’s stock were exchanged, compared to its average volume of 1,811. Southern Michigan Bancorp has a twelve month low of $23.00 and a twelve month high of $32.00. The company’s 50-day simple moving average is $29.88 and its 200-day simple moving average is $28.81. The company has a market capitalization of $137.36 million, a price-to-earnings ratio of 11.04 and a beta of 0.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.95 and a quick ratio of 0.94.

Southern Michigan Bancorp (OTCMKTS:SOMC) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter. The company had revenue of $15.97 million for the quarter. Southern Michigan Bancorp had a net margin of 12.70% and a return on equity of 10.18%.

Southern Michigan Bancorp Company Profile

Southern Michigan Bancorp, Inc. is the bank holding company for Southern Michigan Bank & Trust, a community bank headquartered in Coldwater, Michigan. The bank provides personal and business banking services to individuals, families, and companies in southern Michigan. Its services include checking and savings accounts, certificates of deposit, and lending for consumer, residential, and business needs. The bank also offers trust and wealth management services. Southern Michigan Bank & Trust traces its history to 1871 and serves communities across southern Michigan through its local banking network.