Stock News Spotlight: Auburn National Bancorporation (NASDAQ:AUBN)

Auburn National Bancorporation (NASDAQ:AUBN) stock identified change of 65.08% away from 52-week low price and recently located move of -43.31% off 52-week high price. It has market worth of $133.03M and dividend yield of 2.74%. AUBN stock has been recorded -4.32% away from 50 day moving average and -21.13% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.32% off 20-day moving average.

On Oct. 30, 2020, Auburn National Bancorporation (NASDAQ:AUBN) revealed net earnings of $1.9 million, or $0.54 per share, for the third quarter of 2020, compared to $2.2 million, or $0.62 per share, for the third quarter of 2019. Net earnings for the nine months of 2020 were $5.4 million, or $1.51 per share, compared to $7.1 million, or $1.97 per share, for the first nine months of 2019.

We are open and continue to serve our customers’ banking needs despite a challenging operating environment due to COVID-19. I am very proud of the response from our team, said Robert W. Dumas, Chairman, President, and CEO.

The economic effects of the pandemic have resulted in an additional provision for loan losses in the third quarter of 2020. In addition, we are experiencing net interest margin compression as a result of the historic low interest rate environment. Despite these challenges, we are very pleased with the increase in noninterest income as mortgage lending income more than doubled for both the quarter and first nine months of 2020.

We are proactively working with our customers as payment deferrals have declined from nearly $113 million at June 30, 2020 to roughly $87 million at September 30, 2020. We expect this number to continue to decline in the fourth quarter of 2020 when most of the remaining initial deferral periods expire. While a great deal of uncertainty remains regarding the duration of the pandemic and its effects on our customers, we believe the Company is well positioned to continue supporting our customers and communities through this crisis, said Mr. Dumas. The Financial sector company, Auburn National Bancorporation noticed change of -0.51% to $37.16 along volume of 1935 shares in recent session compared to an average volume of 2.83K. The stock observed return of -0.99% in 5 days trading activity. The stock was at -3.33% over one month performance. AUBN’s shares are at -18.33% for the quarter and driving a -14.26% return over the course of the past year and is now at -29.89% since this point in 2018.

The average volatility for the week at 1.43% and for month was at 2.00%. There are 3.57M shares outstanding and 2.28M shares are floated in market. Right now the stock beta is 0.62.

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