Richard L. Hardgrove, a director at SB Financial Group, Inc. (NASDAQ:SBFG), recently sold 1,200 shares of the company's common stock. The shares were sold at a price of $21.50 each, amounting to a total transaction value of $25,800. Following this sale, Hardgrove holds 13,796 shares directly. This transaction was reported in a recent SEC filing dated December 12, 2024.The sale comes as SBFG trades near its 52-week high of $22.21, with the stock delivering impressive returns of 58% over the past year. The $144 million market cap company maintains a P/E ratio of 12.5 and offers a 2.7% dividend yield, having consistently paid dividends for 12 consecutive years. InvestingPro analysis shows several additional positive indicators among its 13+ available tips, with detailed insights available in the comprehensive Pro Research Report.
In other recent news, SB Financial Group reported solid financial results for the third quarter of 2024. The company saw a net income of $2.7 million, marking a year-over-year increase, and a growth in diluted earnings per share to $0.41. The tangible book value per share also rose by 26% to $16.49, while net interest income and total loans showed an upward trend.
The company's strategic initiatives and growth prospects are set to be boosted by the anticipated Marblehead acquisition, expected to enhance earnings in early 2025. Operating expenses saw a minor increase of about 1% year-over-year, and a provision for credit losses was recorded at $200,000. Despite these costs, the deposit base grew by $74.2 million to $1.16 billion, and the net interest margin improved to 3.19%.
SB Financial Group is focusing on organic expansion in markets with less competition and planning for talent acquisitions and investments in technology to drive revenue growth. The company aims to achieve mid- to upper single-digit loan growth, with a potential 20% growth in the mortgage sector for 2025. These recent developments highlight SB Financial's steady progress and strategic planning for the coming years.
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