Highlands Bankshares Inc (OTCMKTS:HBSI) Stock In Focus After Q3 Earnings

Last week on October 11, 2022 Highlands Bankshares Inc (OTCMKTS:HBSI) had been in focus after it announced its earnings for the nine month period that had ended on September 30, 2022. It should be noted that the figures were unaudited.

Trading Data

On Friday, HBSI stock surged 1.06% to $42.95 with more than 109 shares, compared to its average volume of 62 shares. The stock moved within a range of $42.95 – 42.95 after opening trading at $42.95.

Earnings Recap

In the nine month period, the company managed to bring in earnings of $3,276,000, however, that represented a drop of as much as 15% from the earnings of $3,857,000 in the prior year period. On the other hand, the earnings per share during the period stood at $2.45 a share in the first nine months of the year. That reflected a drop as well from the earnings of $2.88 a share in the prior year period.

However, in this context, it is also necessary to point out that last week on October 11, the board of directors of Highlands Bankshares also announced quarterly cash dividend to the tune of as much as $0.45 a share. The dividends would be paid out on November 4, 2022 to all shareholders of record as on October 28, 2022. The latest dividend announcement pegged the dividend yield for the company at 4.24%. It may be a good move to keep an eye on the stock this week.

Key Quote

Jack H. Walters, Chairman and Chief Executive Officer of the holding company, stated “Despite the economic headwinds that are beginning to be felt across the country related to inflation and interest rate increases, Highlands continues to deliver steady results. We are pleased to again distribute a portion of our income to our shareholders and we thank them for their loyalty and trust in Highlands Bankshares.”