Eagle & Beagle
Nothing like profits to give the old stock price a jolt.
Southwest Bancorp, parent of Stillwater National Bank, last week reported first-quarter earnings of $5.2 million, more than doubling its year-ago profit.
No surprise that shares reflected the improvement, jumping 12.5 percent on the week to close at $9.16.
This is a company that in December sold $300 million of loans and real estate — most of it nonperforming — and booked a big loss in the process. But polishing the portfolio has garnered the interest of traders.
CEO Rick Green, who is planning to step down at year's end, said, “Your board of directors and management are driven to return to sustained profitability, the resumption of dividends for trust preferred securities, preferred stock, and common stock, and to once again produce reliable and attractive returns for our shareholders.”
This week's beagle has been walking a rocky and uneven road.
PostRock Energy Corp., an independent Oklahoma City oil and gas company, saw its shares plummet 18.6 percent last week, ending at $2.24.
The stock, which trades unevenly, saw its heaviest — and worst — trading day on Thursday. PSTR fell 28 cents as 71,000 shares traded hands with no particular bad news to blame.
That volume exceeded all the trading during the other four days, and also represented the biggest part of the week's 51-cent decline.
The hope for long-term investors is that someone was dumping their holdings at any price, and that the issue will retrace that downward swing.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.