Porter Bancorp up 35% on Positive Revenue News

Porter Bancorp up 35% on Positive Revenue News

Porter Bancorp, Inc. [NASDAQ: PBIB], parent company of PBI Bank, is a community bank with a wide range of commercial and personal banking products, including wealth management and trust services, and an innovative on-line bank which delivers competitive deposit products and services through an on-line banking division operating under the name of Ascencia. The Company reported that net income for the first quarter of 2016 was $1.4 million, or $0.05 per basic and diluted common share, compared with $409,000, or $0.02 per basic and diluted share, for the first quarter of 2015. This may have been the catalyst that sent the stock soaring at market open eventually closing at $2.25, up $0.59 or 35%.

Related posts