United Tennessee Bankshares, a community banking institution based in Coalfield, Tennessee, announced its quarterly earnings on October 27, 2023. The company reported earnings per share (EPS) of $0.70, according to data from Zacks Investment Research. This figure reflects the bank’s continued focus on serving individuals and small businesses in the region.
Despite the earnings report, shares of United Tennessee Bankshares (OTCMKTS: UNTN) remained steady, closing at $22.00 on Friday. Over the past year, the stock has fluctuated between a low of $16.40 and a high of $22.26. The company currently holds a market capitalization of $15.99 million and a price-to-earnings (P/E) ratio of 9.73. Notably, its beta stands at -0.26, indicating lower volatility compared to the broader market.
Market Performance and Financial Stability
The stock’s performance has shown resilience, with a fifty-day moving average price of $21.45 and a two-hundred-day moving average price of $20.60. These indicators suggest a stable trading range for the company’s shares, which may appeal to investors seeking consistency in their portfolios.
United Tennessee Bankshares operates through its wholly owned subsidiary, United Tennessee Bank. The bank’s primary mission is to provide comprehensive banking solutions to individuals, small businesses, and agricultural producers in eastern Tennessee. Its range of services includes various deposit products, such as checking accounts, savings accounts, and certificates of deposit. Additionally, the bank offers lending solutions that cover commercial real estate, agricultural, and consumer loans.
As the community banking landscape continues to evolve, United Tennessee Bankshares remains committed to addressing the unique financial needs of its customers. The recent earnings report highlights the bank’s ability to maintain profitability while navigating a competitive market.
Looking Ahead
The financial results released this week position United Tennessee Bankshares for potential growth as it leverages its localized service model. Investors may be keen to watch how the bank adapts to changing economic conditions and customer demands in the coming quarters.
For those interested in receiving updated news and analysis about United Tennessee Bankshares, MarketBeat.com offers a daily email newsletter, summarizing the latest developments and analyst ratings related to the company and its peers.
