Short Interest in Lake Shore Bancorp, Inc. (NASDAQ:LSBK) Rises By 111.1%
by Tristan Rich · The Markets DailyLake Shore Bancorp, Inc. (NASDAQ:LSBK – Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 19,492 shares, a growth of 111.1% from the March 15th total of 9,233 shares. Based on an average daily trading volume, of 15,900 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the company’s shares are sold short.
Lake Shore Bancorp Stock Performance
NASDAQ LSBK traded down $0.01 on Friday, reaching $15.69. The company had a trading volume of 3,989 shares, compared to its average volume of 12,388. The firm has a market capitalization of $123.37 million, a price-to-earnings ratio of 14.80 and a beta of 0.31. Lake Shore Bancorp has a 1-year low of $10.05 and a 1-year high of $15.75. The company’s fifty day moving average is $15.38 and its 200-day moving average is $14.64.
Lake Shore Bancorp (NASDAQ:LSBK – Get Free Report) last announced its earnings results on Wednesday, January 21st. The savings and loans company reported $0.26 earnings per share for the quarter. The firm had revenue of $7.30 million during the quarter. Lake Shore Bancorp had a net margin of 18.38% and a return on equity of 6.26%.
Lake Shore Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Monday, February 2nd were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 2.3%. Lake Shore Bancorp’s dividend payout ratio is presently 33.96%.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Lake Shore Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Lake Shore Bancorp has a consensus rating of “Hold”.
Check Out Our Latest Report on Lake Shore Bancorp
Hedge Funds Weigh In On Lake Shore Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Wealth Management LLC boosted its stake in Lake Shore Bancorp by 1.8% in the 4th quarter. Graham Capital Wealth Management LLC now owns 77,407 shares of the savings and loans company’s stock worth $1,135,000 after purchasing an additional 1,376 shares during the period. Bank of America Corp DE boosted its stake in Lake Shore Bancorp by 35.0% in the 3rd quarter. Bank of America Corp DE now owns 6,102 shares of the savings and loans company’s stock worth $79,000 after purchasing an additional 1,581 shares during the period. Bridgeway Capital Management LLC acquired a new position in Lake Shore Bancorp in the 3rd quarter worth $145,000. Mangrove Partners IM LLC bought a new stake in Lake Shore Bancorp during the 3rd quarter worth about $1,919,000. Finally, Sandhill Capital Partners LLC bought a new stake in Lake Shore Bancorp during the 3rd quarter worth about $260,000. 8.75% of the stock is owned by institutional investors and hedge funds.
Lake Shore Bancorp Company Profile
Lake Shore Bancorp, Inc operates as a savings and loan holding company for Lake Shore Servings Bank. It offers personal services such as checking, savings, lending, banking, debit card, e-services, and online banking; and business services including deposit products, commercial loans, and business e-statements. The company was founded in 2006 and is headquartered in Dunkirk, NY.