SB One Bancorp (NASDAQ:SBBX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “SB One Bancorp is the holding company for SB One Bank a commercial bank. It offers financial products and services which includes checking and savings accounts, commercial and consumer loans, investment, insurance, fund transfer, cash management and online banking services. The company offers SB One Insurance Agency Inc. and wealth management services through Sussex Investment Services. SB One Bancorp, formerly known as Sussex Bancorp, is based in Rockaway, United States. “
Several other analysts have also recently weighed in on SBBX. Boenning Scattergood reaffirmed a “buy” rating on shares of SB One Bancorp in a research report on Monday, October 29th. Hovde Group raised SB One Bancorp from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $33.00 to $30.00 in a research report on Friday, September 21st. Finally, ValuEngine cut SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. SB One Bancorp has a consensus rating of “Hold” and an average price target of $32.17.
SB One Bancorp stock opened at $23.85 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39. The company has a market cap of $189.12 million, a price-to-earnings ratio of 13.71 and a beta of 0.38. SB One Bancorp has a fifty-two week low of $21.70 and a fifty-two week high of $32.85.
SB One Bancorp (NASDAQ:SBBX) last posted its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The business had revenue of $13.51 million for the quarter, compared to analysts’ expectations of $14.20 million. SB One Bancorp had a return on equity of 10.08% and a net margin of 13.22%. As a group, analysts forecast that SB One Bancorp will post 1.88 earnings per share for the current year.
In related news, Director Edward J. Leppert purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average cost of $26.50 per share, with a total value of $132,500.00. Following the transaction, the director now directly owns 57,182 shares in the company, valued at approximately $1,515,323. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George Lista sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $27.46, for a total value of $54,920.00. Following the completion of the sale, the chief executive officer now directly owns 82,543 shares in the company, valued at $2,266,630.78. The disclosure for this sale can be found here. Over the last three months, insiders bought 7,540 shares of company stock worth $201,389. Insiders own 10.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of SB One Bancorp in the 2nd quarter worth approximately $10,141,000. Seidman Lawrence B bought a new stake in shares of SB One Bancorp in the 2nd quarter worth approximately $8,973,000. EJF Capital LLC bought a new stake in shares of SB One Bancorp in the 2nd quarter worth approximately $4,797,000. Renaissance Technologies LLC bought a new stake in shares of SB One Bancorp in the 2nd quarter worth approximately $4,580,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of SB One Bancorp in the 2nd quarter worth approximately $2,937,000. 50.71% of the stock is currently owned by hedge funds and other institutional investors.
About SB One Bancorp
SB One Bancorp operates as a bank holding company for SB One Bank that provides commercial banking and related financial services to individual, business, and government customers. It operates in two segments, Banking and Financial Services, and Insurance Services. The company's deposit products include personal and business checking, money market, and savings accounts, as well as time and demand deposits.
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