US Metro Bancorp Q2 Profit Rises on Loan and Deposit Growth
USMT sits 94% above its 52-week low of $3.02.
Summary
US Metro Bancorp reported Q2 net income of $3.46 million, or $0.21 per share, driven by double-digit growth in loans and deposits. Net interest income rose 10.8% from the prior quarter and 21.5% year-over-year, reflecting strong core banking momentum. However, provision for credit losses and non-performing assets both increased year-over-year, signaling some credit quality deterioration. The stock is trading near its 52-week high of $5.98, suggesting the market may have already priced in much of the positive operating trends. No forward guidance was provided, leaving the outlook uncertain.
At the time of this announcement, USMT was trading at $5.85 on OTC in the Finance sector, with a market capitalization of approximately $98.2M. The 52-week trading range was $3.02 to $5.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.