Oconee Financial Corporation (OTCMKTS:OSBK) was in the news yesterday after the company announced its financial results for the third fiscal quarter of 2021.
Market Action
On Wednesday, OSBK stock ended flat at 41.50% at $41.50 with more than 10 shares, compared to its average volume of 279 shares. The stock has moved within a range of $41.50 – 41.50 after opening the trade at $41.15.
Earnings Review
However, it seems that the numbers did not quite make much of a difference for investors and the Oconee Financial stock continued to trade within a range. That being said, it might be a good idea for investors to dive into the numbers and then make their minds up about the stock one way or another. In the three months that ended on September 30, 2021, the company’s unaudited net income came in at $654,692 and that worked out to $0.73 a share.
It was an improvement on the net income of $516,482 or per share income of $0.58 in the prior year period. It reflected a healthy rise of as much as 26.8%. In this context, it is necessary for investors to keep in mind that the rise in net income for Oconee Financial primarily came about due to the rise in net interest income. The net interest income in the third quarter came in at $110,000. It now remains to be seen if the stock eventually manages to break out or not over the coming days.
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