William Penn Bancorporation Stock Price, News & Analysis

William Penn Bancorporation (NASDAQ: WMPN) reported net income of $183 thousand for Q3 2023 and $2.3 million for nine months, down from $824 thousand and $3.2 million respectively in Q3 2022. Core net income reached $443 thousand for Q3 and $2.3 million YTD, compared to $1.1 million and $3.0 million in the previous year. The Board declared a $0.03 dividend, payable on May 11, 2023. Total assets decreased by $17.6 million to $862.4 million, attributed mainly to share repurchases. Deposits grew by $26.1 million to $632.7 million, while borrowings fell by $27 million. Stockholders' equity dropped by $18.3 million to $174 million.

William Penn Bancorporation (NASDAQ:WMPN) reported financial results for the three and six months ending December 31, 2022. The company achieved a net income of $1.1 million, down from $1.2 million in the same period last year. Core net income also decreased to $788,000 from $1.1 million. A cash dividend of $0.03 per share was declared, payable on February 9, 2023. Loan growth was notable, with $31.0 million funded in the quarter and total deposits rising by $8.8 million. The non-performing assets ratio improved to 0.49% from 0.56%. However, total assets decreased to $870.9 million, primarily due to cash used in stock repurchases.

William Penn Bancorporation (WMPN) reported net income of $1.0 million for Q3 2022, matching the same period in 2021, with a core net income increase to $1.0 million from $846,000. A cash dividend of $0.03 per share will be paid on November 10, 2022. The company improved asset quality metrics, reducing non-performing assets to 0.56% of total assets. Stockholders' equity decreased to $181.2 million, a 5.8% decline, attributed to dividend payments and unrealized losses on securities. The bank's capital ratios remain strong with leverage ratios well above regulatory requirements.

William Penn Bancorporation (NASDAQ CM:WMPN) has announced a new stock repurchase program to buy back up to 739,385 shares, representing approximately 5.0% of its outstanding common stock. This initiative follows an ongoing buyback program where 117,293 shares were repurchased at a cost of $1,353,323. The company remains under the oversight of the Federal Reserve Bank of Philadelphia and has expressed flexibility in share purchases based on market conditions. The total remaining shares eligible for repurchase under the existing program are 654,152.

William Penn Bancorporation (NASDAQ: WMPN) reported a net income of $1.1 million for Q4 2022, up from $666 thousand in Q4 2021, reflecting earnings of $0.08 per share. For the year, net income grew to $4.2 million, or $0.30 per share, compared to $3.8 million in 2021. A dividend of $0.03 per share was announced, payable on August 11, 2022. The company’s core deposits increased 21.0% year-over-year, while net interest margin expanded to 3.20%. Stock repurchase programs were initiated, with 766,936 shares bought at an average cost of $11.84 per share.

William Penn Bancorporation (NASDAQ:WMPN) announced a new stock repurchase program for up to 771,445 shares, representing roughly 5.0% of its outstanding common stock. This follows the existing buyback program, which has repurchased 234,618 shares at an average price of $12.19 per share. The new buyback will commence after the completion of the current program and is authorized after consultations with the Federal Reserve. The timing and number of shares repurchased will depend on various market conditions.

William Penn Bancorporation (NASDAQ:WMPN) announced its financial results for the three and nine months ending March 31, 2022, reporting net income of $824,000 for Q3 and $3.2 million year-to-date. Earnings per share reached $0.06 and $0.22, respectively. The company declared a cash dividend of $0.03 per share, payable on May 12, 2022. Assets increased by 5.7% to $869 million, while core deposits rose by 13.4%. Despite challenges in loan growth, net interest income grew by 12.5% year-over-year, driven by strategic investment in high-quality securities.