The seven publicly traded companies in the Spokane area rebounded from earlier volatility in the second quarter, according to an analysis by Spokane-based Hart Capital Management Inc.

The overall composite value of the seven companies increased 12.7% over the second quarter to $10.7 billion, up from $9.2 billion in the first quarter, the Hart Capital’s analysis shows.

The second-quarter composite value for 2020 was slightly higher than the year-earlier period -- the composite for the second quarter of 2019 was $10.2 billion, according to previous Hart Capital reports. 

Hart Capital tracks the seven publicly traded companies in the Inland Northwest with its composite and Inland Northwest Index.

All but one company, Avista Corp., saw market capitalization value rise in the second quarter. Hart Capital attributes this to a broad market rebound for U.S. stocks.

KeyTronic led the pack with a market capitalization gain of 82.1%, followed by Hecla Mining Co. at 79.7%, and Clearwater Paper at 65.7%. The previous quarter, KeyTronic and Hecla both saw market capitalization dip, by 46% and 43%, respectively. Clearwater had been the lone Inland Northwest company to experience an increase in market capitalization during the first quarter, with a rise of 2.1%.

In the most recent quarters, PotlatchDeltic Corp. saw market capitalization rise by 21.2%, and Itron Inc.’s value increased by 18.7%. W.T.B. Financial Corp., the parent company of Washington Trust Bank, had the smallest increase, of 7.1%. 

Avista was the only company to experience a dip in market capitalization value, with a decline of 14.4%. Hart Capital attributes this to Avista’s general sell-off of utility stocks.

Over the trailing 12 months, Clearwater has seen the most significant appreciation in share price of all seven companies, with a 12-month market capitalization gain of 95.4%.

“The company has benefitted in increased demand for various paper products during Q2, resulting from COVID-19-related shifts in consumer demand,” the report states.