Blue Ridge Bankshare Down 30.79% To $2.18 After Earnings

Wednesday, November 1, 2023 - Blue Ridge Bankshare (BRBS) reported downside earnings and upside revenues.

Blue Ridge Bankshare's earnings came in at an EPS loss of $2.18 per share. The firm's earnings are down 1553% since reporting $0.15 per share in the same period a year ago.

Blue Ridge Bankshare Q3 2023 revenue came in at $29.6 million. The company achieved negative 19% growth year-over-year compared to the firm's revenue of $36.6 million from the year-ago quarter. The lower earnings growth relative to revenue signals Blue Ridge Bankshare has not been able to improve its profit margin.

The stock is down 30.79% to $2.18 after the report.

Blue Ridge Bankshare's profit margins took a hit as earnings fell at a faster pace than revenues.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 2.

Blue Ridge Bankshares Inc is a United States-based company engaged in offering commercial and consumer banking and financial services through its wholly-owned bank subsidiary, Blue Ridge Bank, National Association, and its non-bank financial services affiliates. The bank offers services such as checking accounts, savings accounts, money market accounts, cash management accounts, certificates of deposit, individual retirement accounts, commercial and industrial loans, residential mortgages, commercial mortgages, home equity loans, consumer installment loans, investment accounts, insurance, credit cards, online banking, telephone banking, and mobile banking. Its primary source of revenue is interest income from the lending activities.