County Bancorp (ICBK) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of County Bancorp (NASDAQ:ICBK) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “County Bancorp, Inc. is a bank holding company. It provides a range of consumer and commercial banking services to individuals, businesses, and industries. The basic services offered by the Bank include demand interest bearing and noninterest bearing accounts, money market deposit accounts, NOW accounts, time deposits, remote merchant deposit capture, Internet banking, cash management services, safe deposit services, credit cards, debit cards, direct deposits, notary services, night depository, cashiers’ checks, drive-in tellers, banking by mail, and the full range of consumer loans, both collateralized and uncollateralized. The Bank also makes secured and unsecured commercial loans, as well as loans secured by residential and commercial real estate, and issues stand-by letters of credit. County Bancorp, Inc. is headquartered in Manitowoc, Wisconsin. “

Other analysts have also issued research reports about the company. DA Davidson cut their target price on County Bancorp to $23.00 and set an average rating on the stock in a research report on Tuesday, February 12th. TheStreet lowered County Bancorp from a b- rating to a c+ rating in a research report on Monday, November 26th. Hovde Group lowered County Bancorp from an outperform rating to a market perform rating and cut their target price for the company from $22.00 to $20.00 in a research report on Friday, February 15th. Finally, ValuEngine raised County Bancorp from a strong sell rating to a sell rating in a research report on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $26.40.

ICBK opened at $19.13 on Wednesday. County Bancorp has a one year low of $16.74 and a one year high of $31.51. The company has a market capitalization of $128.17 million, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.20 and a beta of 0.72. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.03.

County Bancorp (NASDAQ:ICBK) last announced its earnings results on Monday, February 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The firm had revenue of $13.06 million during the quarter, compared to analysts’ expectations of $12.93 million. County Bancorp had a net margin of 19.51% and a return on equity of 10.35%. As a group, analysts anticipate that County Bancorp will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, March 7th. County Bancorp’s dividend payout ratio is currently 13.73%.

In related news, insider Mark Andrew Miller acquired 2,789 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were acquired at an average price of $18.55 per share, with a total value of $51,735.95. Following the completion of the transaction, the insider now owns 27,354 shares of the company’s stock, valued at $507,416.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 4,000 shares of company stock worth $71,160 in the last ninety days. Corporate insiders own 25.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of ICBK. BlackRock Inc. increased its position in shares of County Bancorp by 17.3% during the second quarter. BlackRock Inc. now owns 235,145 shares of the financial services provider’s stock worth $6,466,000 after acquiring an additional 34,721 shares during the period. Renaissance Technologies LLC increased its position in shares of County Bancorp by 58.3% during the second quarter. Renaissance Technologies LLC now owns 16,700 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 6,148 shares during the period. Northern Trust Corp increased its position in shares of County Bancorp by 7.3% during the second quarter. Northern Trust Corp now owns 50,456 shares of the financial services provider’s stock worth $1,388,000 after acquiring an additional 3,430 shares during the period. Dimensional Fund Advisors LP increased its position in shares of County Bancorp by 22.1% during the third quarter. Dimensional Fund Advisors LP now owns 41,179 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 7,441 shares during the period. Finally, Banc Funds Co. LLC increased its position in shares of County Bancorp by 1.1% during the third quarter. Banc Funds Co. LLC now owns 272,731 shares of the financial services provider’s stock worth $6,846,000 after acquiring an additional 3,000 shares during the period. 27.64% of the stock is currently owned by institutional investors and hedge funds.

About County Bancorp

County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of banking and related financial services to individuals, businesses, and industries in northeastern and central Wisconsin. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.

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