Prudential Bancorp Just Filed Its Quarterly Report: 2. EARNINGS PER SH...

2. EARNINGS PER SHARE

 

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares of common stock issued, net of any treasury shares and unearned restricted share awards, during the period. Diluted earnings per share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents, based upon the treasury stock method using an average market price for the period.

 

The calculated basic and diluted earnings per share are as follows:

 

    Three Months Ended June 30,  
    2019     2018  
    Basic     Diluted     Basic     Diluted  
    (Dollars in Thousands, Except Share and Per Share Data)  
                         
Net income   $ 2,630     $ 2,630     $ 2,436     $ 2,436  
Weighted average shares outstanding     8,775,210       8,775,210       8,848,393       8,848,393  
Effect of common stock equivalents     -       162,094       -       378,912  
Adjusted weighted average shares used in earnings per share computation     8,775,210       8,937,304       8,848,393       9,227,305  
Earnings per share - basic and diluted   $ 0.30     $ 0.29     $ 0.28     $ 0.26  
                                 
    Nine Months Ended June 30,  
    2019     2018  
    Basic     Diluted     Basic     Diluted  
    (Dollars in Thousands, Except Share and Per Share Data)  
                         
Net income   $ 6,944     $ 6,944     $ 4,627     $ 4,627  
Weighted average shares outstanding     8,785,618       8,785,618       8,851,784       8,851,784  
Effect of common stock equivalents     -       156,932       -       342,432  
Adjusted weighted average shares used in earnings per share computation     8,785,618       8,942,550       8,851,784       9,194,216  
Earnings per share - basic and diluted   $ 0.79     $ 0.78     $ 0.52     $ 0.50  

 

As of June 30, 2019 and 2018, there were 550,832 and 774,404 shares of common stock, respectively, subject to options with an exercise price less than the then current market price per share for the Company’s common stock and which were included in the computation of diluted earnings per share. At June 30, 2019 and 2018, there were 202,500 and 202,500 shares, respectively, that had exercise prices greater than the then current market value and were considered anti-dilutive at such dates.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Notification of inability to timely file Form 11-K - June 30, 2020
Prudential: At 4 - June 18, 2020
Prudential Bancorp director just picked up 400 shares - June 3, 2020

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