Boenning Scattergood reissued their buy rating on shares of SB One Bancorp (NASDAQ:SBBX) in a report released on Monday. Boenning Scattergood also issued estimates for SB One Bancorp’s Q4 2018 earnings at $0.55 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.68 EPS and FY2019 earnings at $2.35 EPS.
“We continue to see multiple catalysts for the stock to close the valuation gap with peers, including: 1) successful deal closure and integration of Enterprise Bank, 2) improved profitability in 2019, and 3) problem credits resolution. We believe the risk/reward profile is favorable today with shares trading at a discount to peers on a P/E basis (9.6x 2019E vs. 11.4x). Our rating remains Outperform and we are adjusting our price target to $28 (from $30) to account for the recent pullback in industry valuations.”,” Boenning Scattergood’s analyst commented.
Other equities research analysts also recently issued research reports about the company. Hovde Group raised SB One Bancorp from a market perform rating to an outperform rating and cut their price objective for the company from $33.00 to $30.00 in a report on Friday, September 21st. ValuEngine downgraded SB One Bancorp from a hold rating to a sell rating in a report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. SB One Bancorp has a consensus rating of Hold and a consensus target price of $32.17.
SB One Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $13.51 million during the quarter, compared to the consensus estimate of $14.20 million. SB One Bancorp had a return on equity of 10.08% and a net margin of 13.22%. On average, sell-side analysts forecast that SB One Bancorp will post 1.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 9th. SB One Bancorp’s payout ratio is presently 21.13%.
In other SB One Bancorp news, Director Edward J. Leppert purchased 5,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was acquired at an average price of $26.50 per share, with a total value of $132,500.00. Following the acquisition, the director now directly owns 57,182 shares of the company’s stock, valued at approximately $1,515,323. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael X. Mcbride purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were acquired at an average cost of $27.50 per share, with a total value of $27,500.00. Following the acquisition, the director now directly owns 6,425 shares in the company, valued at $176,687.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 7,540 shares of company stock valued at $201,389. 10.50% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. acquired a new stake in SB One Bancorp during the 2nd quarter valued at $122,000. Bank of America Corp DE acquired a new stake in SB One Bancorp during the 2nd quarter valued at $123,000. Commonwealth Equity Services LLC acquired a new stake in SB One Bancorp during the 2nd quarter valued at $210,000. First Trust Advisors LP lifted its holdings in SB One Bancorp by 88.3% during the 3rd quarter. First Trust Advisors LP now owns 21,107 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in SB One Bancorp during the 2nd quarter valued at $401,000. 50.71% of the stock is owned by institutional investors and hedge funds.
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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