Yesterday, Community Heritage Financial Inc (OTCMKTS:CMHF) was in the news after it announced its financial results for the first fiscal quarter that had ended on March 31, 2022.
Market Reaction
On Monday, CMHF stock gained 0.21% to $24.30 with more than 5.9K shares, compared to its average volume of 2.8K shares. The stock moved within a range of $24.30 – 24.55 after opening trade at $24.55.
Earnings Recap
The financial results did not cause much of a flutter among investors as the stock remained within range. However, it may be a good time for investors to take a look into some of the highlights from the first quarter financial results as well. The company managed to generate net income to the tune of $1.82 million and that worked out to earnings per share of $0.81 a share. That also reflected a rise in net income to the tune of $212,000 or 13% year on year.
In addition to that, it ought to be noted that the balance sheet grew stronger for Community Heritage Financial owing to considerable growth in core deposits. Core deposits grew to as much as $33.5 million while the loans grew to $43.1 million. It was a strong performance from Community Heritage Financial Inc and it now going to be interesting to see if the company’s stock can get any traction among investors over the course of the rest of the week.
Traders Review
CMHF stock is trading below the 20-Day and 50-Day Moving averages of $24.91 and $25.01 respectively. However, the stock is trading above the 200-Day moving average of $23.84.
