SB One Bancorp (SBBX) Downgraded by ValuEngine to Strong Sell

SB One Bancorp (NASDAQ:SBBX) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

Other analysts have also issued research reports about the company. Zacks Investment Research raised SB One Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Boenning Scattergood set a $28.00 price target on SB One Bancorp and gave the company a “buy” rating in a report on Friday, January 25th.

NASDAQ:SBBX traded down $0.52 during mid-day trading on Wednesday, hitting $21.70. 8,302 shares of the company traded hands, compared to its average volume of 21,481. SB One Bancorp has a one year low of $19.30 and a one year high of $31.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $215.12 million, a PE ratio of 11.67 and a beta of 0.62.

SB One Bancorp (NASDAQ:SBBX) last released its quarterly earnings results on Friday, February 1st. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. SB One Bancorp had a return on equity of 9.89% and a net margin of 14.71%. The business had revenue of $13.83 million during the quarter, compared to analyst estimates of $14.70 million. Equities analysts forecast that SB One Bancorp will post 2.32 earnings per share for the current fiscal year.

In other news, Director Robert Mcnerney sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $21.65, for a total value of $64,950.00. Following the transaction, the director now directly owns 6,363 shares in the company, valued at $137,758.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 1,276 shares of company stock worth $29,061 over the last 90 days. Company insiders own 10.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in SBBX. Bank of America Corp DE purchased a new position in shares of SB One Bancorp in the second quarter valued at about $123,000. Northern Trust Corp purchased a new stake in shares of SB One Bancorp in the second quarter worth about $615,000. First Trust Advisors LP lifted its position in shares of SB One Bancorp by 88.3% in the third quarter. First Trust Advisors LP now owns 21,107 shares of the financial services provider’s stock worth $532,000 after buying an additional 9,900 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of SB One Bancorp by 26.9% in the third quarter. Victory Capital Management Inc. now owns 47,200 shares of the financial services provider’s stock worth $1,189,000 after buying an additional 10,000 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of SB One Bancorp by 5.3% in the third quarter. BlackRock Inc. now owns 359,564 shares of the financial services provider’s stock worth $9,061,000 after buying an additional 18,107 shares in the last quarter. Institutional investors and hedge funds own 43.49% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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