Zacks Investment Research lowered shares of SB One Bancorp (NASDAQ:SBBX) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
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. “
A number of other equities research analysts have also recently commented on SBBX. Boenning Scattergood reissued a buy rating on shares of SB One Bancorp in a research report on Monday, October 29th. Hovde Group raised shares of SB One Bancorp from a market perform rating to an outperform rating and decreased their target price for the company from $33.00 to $30.00 in a research report on Friday, September 21st. Finally, ValuEngine cut shares of 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 company. The company presently has a consensus rating of Hold and an average price target of $32.17.
NASDAQ:SBBX opened at $23.04 on Wednesday. SB One Bancorp has a 52 week low of $21.70 and a 52 week high of $32.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $184.74 million, a P/E ratio of 16.23 and a beta of 0.34.
SB One Bancorp (NASDAQ:SBBX) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. SB One Bancorp had a net margin of 13.22% and a return on equity of 9.68%. The company had revenue of $13.51 million during the quarter, compared to analysts’ expectations of $14.20 million. As a group, equities analysts anticipate that SB One Bancorp will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Monday, November 12th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $0.30 dividend on an annualized basis and a yield of 1.30%. SB One Bancorp’s payout ratio is 21.13%.
In related news, Director Richard Branca purchased 3,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were acquired at an average price of $24.35 per share, for a total transaction of $73,050.00. Following the purchase, the director now owns 64,908 shares of the company’s stock, valued at approximately $1,580,509.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Lista sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $27.46, for a total transaction of $54,920.00. Following the transaction, the chief executive officer now owns 82,543 shares in the company, valued at approximately $2,266,630.78. The disclosure for this sale can be found here. Insiders have purchased 8,890 shares of company stock valued at $228,707 in the last three months. 10.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SBBX. Acadian Asset Management LLC increased its stake in SB One Bancorp by 719.0% during the 2nd quarter. Acadian Asset Management LLC now owns 21,369 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 18,760 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in SB One Bancorp during the 2nd quarter valued at approximately $210,000. First Trust Advisors LP acquired a new position in SB One Bancorp during the 2nd quarter valued at approximately $333,000. Victory Capital Management Inc. increased its stake in SB One Bancorp by 192.5% during the 2nd quarter. Victory Capital Management Inc. now owns 37,200 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 24,484 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in SB One Bancorp during the 2nd quarter valued at approximately $122,000. Institutional investors and hedge funds own 49.57% of the company’s stock.
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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