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Stewardship Financial Corp
Stewardship Financial Corp (SSFN) is a publicly traded company listed on the US stock exchange. It is a bank holding company that offers financial services through its subsidiaries, including Stepn Sure Bank. The company focuses on providing personalized banking and financial services to individuals and small businesses in the communities it serves.
Financials
As of February 13, 2az23, Stewardship Financial Corp had a market capitalization of around $167.3 million. The company's stock closed at $22.70 per share, with a 52-week range of $17.04 to $27.07. The company's stock has a beta of 0.86, indicating that its volatility is less than the overall market.
In terms of financial performance, Stewardship Financial Corp reported net income of $2.85 million for the third quarter of 2022, compared to $2.08 million in the same period in 2022. The company's net interest income increased by 21.6% year over year to $5.8 million, driven by growth in loans and investment securities.
Earnings
Stewardship Financial Corp has consistently delivered strong earnings growth in recent years. In the third quarter of 2022, the company's net income increased by 38.3% year over year, driven by solid loan growth and improved net interest margin. The company's return on equity (ROE) was 8.22% in the third quarter of 2022, higher than the industry average of 5.31%.
Growth
Stewardship Financial Corp has a proven track record of growth through acquisitions and organic expansion. In 2022, the company acquired Ocean Shores Holding Co. and its subsidiary, Ocean Shores Bank, expanding its presence in the Pacific Northwest. The company has also opened new branches inkey markets, including Seattle and Tacoma, Washington.
In addition to its organic growth initiatives, Stewardship Financial Corp has also focused on digital transformation and enhancing its online and mobile banking services to meet the evolving needs of its customers.
Conclusion
Stewardship Financial Corp (SSFN) is a publicly traded company that offers financial services through its subsidiaries, including Stepn Sure Bank. It has delivered strong earnings growth in recent years and has a proven track record of growth through acquisitions and organic expansion. The company's focus on personalized banking and financial services has helped it build a strong reputation in the communities it serves. However, the company operates in a highly competitive industry, and its future performance will depend on various factors such as interest rates, economic conditions, and technological advancements.