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. “
Separately, Boenning Scattergood set a $28.00 target price on SB One Bancorp and gave the stock a buy rating in a research report on Friday, January 25th.
Shares of NASDAQ:SBBX traded down $0.13 during trading on Wednesday, reaching $23.52. 16,707 shares of the stock were exchanged, compared to its average volume of 50,435. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. SB One Bancorp has a 1-year low of $19.30 and a 1-year high of $32.85. The firm has a market capitalization of $181.08 million, a price-to-earnings ratio of 12.23 and a beta of 0.64.
SB One Bancorp (NASDAQ:SBBX) last issued its earnings results on Friday, February 1st. The financial services provider reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. SB One Bancorp had a return on equity of 9.89% and a net margin of 14.71%. The company had revenue of $13.83 million for the quarter, compared to analyst estimates of $14.70 million. Equities research analysts anticipate that SB One Bancorp will post 2.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, February 19th. SB One Bancorp’s payout ratio is 16.13%.
In other news, Director Robert Mcnerney sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $21.65, for a total transaction of $64,950.00. Following the transaction, the director now directly owns 6,363 shares of the company’s stock, valued at $137,758.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 803 shares of company stock worth $18,815 over the last ninety days. 10.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in SB One Bancorp by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 418,642 shares of the financial services provider’s stock valued at $10,550,000 after buying an additional 45,947 shares during the last quarter. Vanguard Group Inc raised its position in SB One Bancorp by 12.3% in the 3rd quarter. Vanguard Group Inc now owns 418,642 shares of the financial services provider’s stock valued at $10,550,000 after buying an additional 45,947 shares during the last quarter. EJF Capital LLC raised its position in SB One Bancorp by 129.7% in the 4th quarter. EJF Capital LLC now owns 417,111 shares of the financial services provider’s stock valued at $8,526,000 after buying an additional 235,523 shares during the last quarter. BlackRock Inc. raised its position in SB One Bancorp by 3.0% in the 4th quarter. BlackRock Inc. now owns 370,328 shares of the financial services provider’s stock valued at $7,568,000 after buying an additional 10,764 shares during the last quarter. Finally, RMB Capital Management LLC raised its position in SB One Bancorp by 2.5% in the 4th quarter. RMB Capital Management LLC now owns 358,887 shares of the financial services provider’s stock valued at $7,336,000 after buying an additional 8,606 shares during the last quarter. 49.23% of the stock is owned by institutional investors and hedge funds.
SB One Bancorp Company Profile
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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