GrandSouth Bank (OTCMKTS:GRRB) Stock In Focus After Q3 Earnings Update

As the earnings season frenzy continues, investors are going to have to look into the third quarter performances of many companies and one of the companies that you could look into this morning is GrandSouth Bancorporation. It is the holding company for GrandSouth Bank (OTCMKTS:GRRB).

Trading Data

On Monday, GRRB stock ended flat at $37.11 with more than 50 shares, compared to its average volume of 1.04K shares. The stock moved within a range of $37.11 – 37.11 after opening trade at $37.20.

GrandSouth Bancorporation reports third quarter 2022 results

The company announced that in the third fiscal quarter of the year, it had managed to bring in net income to the tune of as much as $4.4 million. However, that was not all. The board of directors of GrandSouth Bancorporation also approved a quarterly cash dividend of $0.13 a share. The dividends are going to paid out on November 18, 2022 to all shareholders on record as on November 4, 2022.

In this context, it should be noted that investors could do well to keep an eye on the stock in the lead up to the record date. Stocks which pay out dividends often garner considerable attention from investors in the short term. The net income recorded by the company also reflected a year on year rise of as much as 15.26%. The earnings per basic share came in at $0.80, while the earnings per diluted share stood at $0.77.

Technical Data

GRRB stock is trading above the 20-Day and 50-Day Moving averages of $34 and $33 respectively. Moreover, the stock is trading above the 200-Day moving average of $29. The company has a total market capitalization of $193 million.