Home / Financial / Financials Feel Pain of 7.08% Drop in Shares of Porter Bancorp Inc. (PBIB) During Morning Session on April 21

Financials Feel Pain of 7.08% Drop in Shares of Porter Bancorp Inc. (PBIB) During Morning Session on April 21

Porter Bancorp Inc. (PBIB) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the financial sector halfway through the trading day. At the lunch break, shares of PBIB have fallen 7.08% to $8.53 after closing the day prior at $9.18. So far, the stock has traded as high as $9.17 and as low as $8.11. Today’s decline has come with about 8,793 shares changing hands, compared to an average 30-day volume of 2,192 for Porter Bancorp Inc.. The price is currently below the 30-day volume weighted average price of $8.9 for PBIB.

The share depreciation gives the company a market capitalization of $114.28 million based upon 12.45 million shares outstanding. It also means that PBIB has a price-to-book ratio of 3.83:1.

In the past 52 weeks, shares of PBIB have traded as low as $7.1 and as high as $13.75. Technical traders will take note that at $8.53, shares of PBIB are trading below their 200-day MA at $9.58 and below their 50-day MA at $9.47. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is PBIB?

Porter Bancorp Inc through its subsidiary PBI Bank, provides commercial and personal banking products. Its lending services include real estate, commercial, mortgage, agriculture, and consumer loans to small to medium-sized businesses. The company’s 238 employees are led by CEO John T. Taylor from the corporate headquarters at 2500 Eastpoint Parkway in Louisville, KY.

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