Chesapeake Financial Shares Reports Third Quarter Earnings and Declares Dividend
Rhea-AI Summary
Chesapeake Financial Shares (OTCQX:CPKF) reported third quarter 2024 earnings of $2,600,159, a 5% increase from Q3 2023. Earnings per share were $0.550 fully diluted, up from $0.526 in Q3 2023. Total assets reached $1,589,344,001, an 8% increase from year-end. Nonperforming assets were 0.421% as of September 30, 2024.
The company's lending grew 8.1% annualized year-to-date in 2024. The Board of Directors increased the quarterly dividend by $0.05 to $0.16 per share, effective December 1, 2024. This marks the 32nd consecutive year of dividend increases. The stock currently has a 3.26% dividend yield and trades at a 9.79 price/earnings ratio.
Chesapeake Financial Shares has been recognized as a "Top Performing" community bank in the U.S. for the seventeenth consecutive year.
Positive
- Q3 2024 earnings increased by 5% compared to Q3 2023
- Earnings per share rose to $0.550 from $0.526 year-over-year
- Total assets grew by 8% from year-end
- Lending increased by 8.1% annualized year-to-date in 2024
- Quarterly dividend increased by $0.05 to $0.16 per share
- 32 consecutive years of dividend increases
Negative
- Nonperforming assets increased to 0.421% from 0.376% year-over-year
News Market Reaction – CPKF
On the day this news was published, CPKF gained 0.37%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
A "Top Performing" community bank" in the U.S. for the seventeenth consecutive year
KILMARNOCK, VA / ACCESSWIRE / October 22, 2024 / On behalf of Chesapeake Financial Shares, Inc. (OTCQX:CPKF)(parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board and CEO, reported earnings for the third quarter of 2024 of
"The leveling off and slight decrease in interest rates has helped stabilize our net interest margin. Our lending remains above peer with an
At the October 18, 2024 Chesapeake Financial Shares Board of Directors meeting, the Board increased the quarterly dividend
For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see https://chesapeakefinancialshares.com/. To receive investor news updates about us visit our page on Proactive Investors (https://www.proactiveinvestors.com). The company is followed by Zacks Investment Research, and a copy of their report can also be found on this site or at www.zacks.com. Chesapeake Financial Shares is an over-the-counter, publicly traded stock. "Like" Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter, and Instagram.
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Contact:
Jeffrey M. Szyperski 1-800-434-1181
SOURCE: Chesapeake Financial Shares Inc.
View the original press release on accesswire.com
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