Blue Ridge Bankshare Up 4% To $2.60 After Earnings

Blue Ridge Bankshares Inc (BRBS) missed earnings projections on 1/31/2024 for Q4 2023.

Blue Ridge Bankshare earnings per share (EPS) came in at loss of $0.30 per share. Blue Ridge Bankshare's earnings were down 191% year-over-year as the firm reported an EPS of $0.33 in its year-ago quarter. The negative annual growth shows the Financial Services company isn't performing well amid current economic conditions.

Blue Ridge Bankshare reported a revenue of $25.9 million in Q4 2023. The firm managed negative 35% growth year-over-year due to Blue Ridge Bankshare reporting quarterly revenue of $39.8 million in its year-ago quarter. Blue Ridge Bankshare achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 4% to $2.60 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Blue Ridge Bankshare a Bearish Sentiment Rank from InvestorsObserver.

Blue Ridge Bankshare has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 4, putting Blue Ridge Bankshare in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $2.05 on November 3, 2023 and set a 52-week high on February 2, 2023 at $13.

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.