Q3 EPS Jumps 37% to $2.00 as Buyback Authorized
CIWV has more than doubled off its 52-week low of $18.88.
Summary
Q3 net income came in at $3.6M, or $2.00 per share, up 37% from $1.46 a year earlier, with year-to-date earnings of $10.6M up 39%. Net interest margin expanded to 4.53% from 4.18%, and the balance sheet grew with loans up 14% and deposits up 12% year over year. The board authorized a share repurchase program, though no size or timeline was disclosed, which limits how much the buyback can move the stock on its own. The margin expansion plus double-digit loan growth is the more durable part of the story for a small OTC bank trading near its 52-week high.
At the time of this announcement, CIWV was trading at $51.40 on OTC in the Finance sector, with a market capitalization of approximately $92.2M. The 52-week trading range was $18.88 to $52.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.