Q3 Net Income Doubles Sequentially to $4.92M, EPS $0.95
UNIB sits 64% above its 52-week low of $12.935.
Summary
Q3 net income came in at $4.92M, or $0.95 per share ($0.76 diluted), more than double the $2.35M ($0.45) reported in Q2. Nine-month net income of $16.18M ($3.13 per share, $2.50 diluted) is well above the $6.16M for the same period last year, so the earnings acceleration is not a one-quarter blip. Annualized Q3 ROE of 19.8% and equity of $115.11M ($22.27 per share, $20.09 tangible) put book value near the current $21.19 price. This follows the September $25M subordinated notes placement at 8.125% and the September FinTech alliance announcement, both of which add context to the capital and growth picture. The stock is thinly traded OTC, so the read-through is mainly for existing holders: profitability is compounding, but the 8.125% note coupon is a real cost against that ROE.
At the time of this announcement, UNIB was trading at $21.19 on OTC in the Finance sector, with a market capitalization of approximately $109.5M. The 52-week trading range was $12.94 to $24.61. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.