Last $13.18 USD
Change Today -0.02 / -0.15%
Volume 1.6K
PLMT On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).

palmetto bancshares inc (PLMT) Snapshot

Open
$13.24
Previous Close
$13.20
Day High
$13.36
Day Low
$13.00
52 Week High
04/2/14 - $14.98
52 Week Low
09/3/13 - $11.43
Market Cap
168.6M
Average Volume 10 Days
6.6K
EPS TTM
$2.24
Shares Outstanding
12.8M
EX-Date
07/31/14
P/E TM
5.9x
Dividend
$0.20
Dividend Yield
0.38%
Current Stock Chart for PALMETTO BANCSHARES INC (PLMT)

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palmetto bancshares inc (PLMT) Details

Palmetto Bancshares, Inc. operates as the bank holding company for The Palmetto Bank that provides retail and commercial banking, and wealth management services to individuals and small to mid-size businesses in northwest South Carolina. It offers consumer banking services, including checking accounts and savings accounts; drive-in and night deposit services, and safe deposit facilities; installment and real estate loans, residential first mortgage loans, home equity loans and lines of credit, and automobile loans; online and mobile banking, bill payment, automated teller machines (ATMs), and overdraft facilities, as well as credit card products through a third party referral arrangement. It also provides commercial banking services, such as loans for corporate purposes, including financing industrial and commercial properties, construction related to industrial and commercial properties, equipment, inventories and accounts receivable, and acquisition financing; deposit products; and online banking, cash management products, and merchant services through a third party referral arrangement. Its wealth management services comprise trust, investment, agency, insurance, financial planning, and custodial services that include the administration of estates and personal trusts, as well as management of investment accounts for individuals, employee benefit plans, and charitable foundations. In addition, the company offers brokerage services relating to stocks, treasury, corporate and municipal bonds, mutual funds, and insurance annuities, as well as college and retirement planning through a third party arrangement. It operates 25 branches; 27 ATMs; and 6 limited service offices located in retirement centers in the Upstate. The company was founded in 1906 and is headquartered in Greenville, South Carolina.

299.8 Employees
Last Reported Date: 07/23/14
Founded in 1906

palmetto bancshares inc (PLMT) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $357.3K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $192.6K
Chief Operating Officer, Chief Risk Officer, ...
Total Annual Compensation: $291.9K
Compensation as of Fiscal Year 2013.

palmetto bancshares inc (PLMT) Key Developments

Palmetto Bancshares Inc. to Report Q2, 2014 Results on Jul 23, 2014

Palmetto Bancshares Inc. announced that they will report Q2, 2014 results on Jul 23, 2014

Palmetto Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter of 2014; Declares Quarterly Cash Dividend, Payable on August 18, 2014

Palmetto Bancshares Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $9,920,000 against $10,728,000 a year ago. Net interest income was $9,789,000 against $10,225,000 a year ago. Net interest income after provision for loan losses was $9,789,000 against $9,555,000 a year ago. Income before provision for income taxes was $3,195,000 against $1,881,000 a year ago. Net income was $2,027,000 or $0.16 per diluted share against $1,499,000 or $0.12 per diluted share a year ago. The decline in net interest income and net interest margin is primarily due to lower average loan balances and yields and the reversal of $106,000 of accrued interest income on one borrower relationship placed on nonaccrual status during the quarter. Return on average was at 0.74% against 0.55% reported last year. Return on average equity was at 6.32% against 5.92% reported last year. For the six months, the company reported total interest income of $19,996,000 against $21,592,000 a year ago. Net interest income was $19,722,000 against $20,194,000 a year ago. Net interest income after provision for loan losses was $19,722,000 against $19,174,000 a year ago. Income before provision for income taxes was $6,405,000 against $4,870,000 a year ago. Net income was $4,055,000 or $0.32 per diluted share against $3,675,000 or $0.29 per diluted share a year ago. Book value per share was $10.18 against $7.76 per share a year ago. Return on average was at 0.75% against 0.67% reported last year. Return on average equity was at 6.43% against 7.36% reported last year. Net charge-offs were $647,000 (0.34% of average loans, annualized) during the second quarter compared to $242,000 during the first quarter (0.13% of average loans, annualized). The company declared quarterly cash dividend of $0.05 per common share payable on August 18, 2014 to shareholders of record on August 4, 2014.

Palmetto Bancshares Mulls Acquisitions

Palmetto Bancshares Inc. (NasdaqCM:PLMT), which has filed for shelf registration in the amount of $50 million is looking for acquisitions. The company stated, “Unless otherwise specified in a prospectus supplement accompanying this prospectus, we currently intend to use the net proceeds from the sale of the securities offered under this prospectus for general corporate purposes. General corporate purposes may include repayment of debt or the interest payment thereon, capital expenditures, possible acquisitions, investments, and any other purposes that we may specify in any prospectus supplement.”

 

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PLMT

Industry Average

Valuation PLMT Industry Range
Price/Earnings 6.0x
Price/Sales 3.3x
Price/Book 1.3x
Price/Cash Flow 6.0x
TEV/Sales 1.5x
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