Brokerages expect that SB One Bancorp (NASDAQ:SBBX) will announce $18.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for SB One Bancorp’s earnings, with the highest sales estimate coming in at $18.30 million and the lowest estimate coming in at $18.10 million. SB One Bancorp reported sales of $13.87 million during the same quarter last year, which indicates a positive year over year growth rate of 31.2%. The firm is scheduled to issue its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that SB One Bancorp will report full year sales of $73.95 million for the current financial year, with estimates ranging from $73.50 million to $74.40 million. For the next fiscal year, analysts forecast that the firm will post sales of $81.15 million, with estimates ranging from $80.60 million to $81.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow SB One Bancorp.
SB One Bancorp (NASDAQ:SBBX) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.10. The company had revenue of $18.07 million during the quarter, compared to analysts’ expectations of $17.35 million. SB One Bancorp had a net margin of 19.25% and a return on equity of 9.99%.
A number of research analysts have issued reports on the stock. FIG Partners reaffirmed an “outperform” rating on shares of Two Rivers Bancorp in a report on Wednesday, April 24th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.00.
Shares of NASDAQ SBBX traded up $0.07 during midday trading on Tuesday, reaching $22.40. The company had a trading volume of 7,530 shares, compared to its average volume of 27,805. The company’s 50-day moving average is $22.37. The company has a market cap of $212.25 million, a PE ratio of 12.04 and a beta of 0.65. SB One Bancorp has a 1 year low of $19.30 and a 1 year high of $29.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97.
In related news, Director Robert Mcnerney sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $22.77, for a total transaction of $56,925.00. Following the sale, the director now owns 4,197 shares in the company, valued at $95,565.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vito Giannola sold 9,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $22.50, for a total transaction of $202,500.00. Following the sale, the executive vice president now owns 62,712 shares in the company, valued at approximately $1,411,020. The disclosure for this sale can be found here. Insiders sold 17,607 shares of company stock worth $394,409 in the last quarter. Company insiders own 14.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its position in shares of SB One Bancorp by 515.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,513 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,267 shares during the period. Marshall Wace LLP acquired a new position in shares of SB One Bancorp in the first quarter valued at approximately $40,000. Citigroup Inc. grew its holdings in shares of SB One Bancorp by 29.2% in the fourth quarter. Citigroup Inc. now owns 2,537 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 574 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of SB One Bancorp by 149.8% in the fourth quarter. Bank of America Corp DE now owns 6,770 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 4,060 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of SB One Bancorp in the first quarter valued at approximately $211,000. Institutional investors own 41.39% 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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