Teton Advisors Q1 2017 revenues up YoY.
BANKING AND CREDIT NEWS-May 19, 2017-Teton Advisors Q1 2017 revenues up YoY
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Teton Advisors, Inc. (OTC PINK: TETAA) first quarter 2017 results included revenues of USD 5.2m, net income of USD 0.8m and earnings of USD 0.69 per diluted share, the company said.
These results include one-month of operations from the assets acquired in the transaction with Keeley Asset Management Corp. ("KAMCO"), which closed on February 28, 2017. The March contribution was approximately USD 249,000, or USD 0.16 per fully diluted share.
On a comparable basis, revenues were USD 3.2m, net income was USD 0.7m, and earnings were USD 0.61 per diluted share in the first quarter of 2016. At quarter end, March 31, 2017, Teton held USD 3.0m in cash and equivalents on its balance sheet, or USD 2.56 per share.
At March 31, 2017, assets under management ("AUM") were USD 3.8bn versus USD 1.4bn at March 31, 2016. The increase reflects USD 2.4bn in AUM acquired from KAMCO on February 28, 2017.
Teton Advisors declared a regular quarterly dividend of USD 0.05 per share on its Class A and Class B Common Stock payable on July 11, 2017 to its shareholders of record on June 27, 2017. Teton Advisors also declared a quarterly dividend of USD 0.75 per share on its Series A Preferred Stock payable on July 11, 2017 to its Series A Preferred shareholders of record on May 23, 2017.
Teton Advisors, Inc. is a publicly owned investment manager. The firm primarily provides its services to investment companies, including seven open-end mutual funds under the TETON Westwood brand name. It also provides its services to pension and profit sharing plans, banking or thrift institutions, mutual fund supermarkets, defined contribution platforms, unified managed accounts, sub-advisory accounts, institutional accounts, endowments, and foundations.
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|Publication:||M2 Banking & Credit News (BCN)|
|Article Type:||Financial report|
|Date:||May 19, 2017|
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