Guaranty Bancshares, Inc. (GNTY) Tops Q1 EPS by 13c

April 19, 2021 7:02 AM EDT
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Price: $39.42 +3.14%

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Guaranty Bancshares, Inc. (NASDAQ: GNTY) reported Q1 EPS of $0.85, $0.13 better than the analyst estimate of $0.72.

"We are very pleased with our operating and financial results for the first quarter of 2021. The Texas economy appears to be rebounding nicely from many of the prior year’s concerns resulting from COVID-19 and we’re glad to see people in our communities receiving vaccinations and continuing to work at stopping the spread of the virus. All of our lobbies are back open at normal business hours, and many of our employees have returned to normal working conditions with the remainder expected to during the second quarter. Our borrowers have generally weathered the downturn well over the last year and we’re pleased that only a handful of credits remain in an interest-only deferral period. We anticipate that these borrowers will return to their normal contractual payment schedules during the second quarter of 2021. As our first quarter results indicate, we’ve sustained our net interest margin at good levels compared to industry trends and continue to have excellent asset quality and strong net core earnings. Additionally, during the first quarter of 2021 we issued a 10% stock dividend and declared a cash dividend of $0.20/share, which is an increase over last year on a split-adjusted basis of over 12%. We continue to view our multi-decade history of providing a growing dividend to our shareholders as a big part of the value proposition to our shareholder’s total return," commented Ty Abston, the Company's Chairman and Chief Executive Officer.

For earnings history and earnings-related data on Guaranty Bancshares, Inc. (GNTY) click here.

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