SB One Bancorp (NASDAQ:SBBX) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research cut shares of SB One Bancorp (NASDAQ:SBBX) from a hold rating to a strong sell rating in a research report released on Friday, Zacks.com reports.

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, ValuEngine raised shares of SB One Bancorp from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. SB One Bancorp has a consensus rating of Hold and a consensus price target of $28.00.



SB One Bancorp stock opened at $23.26 on Friday. The company’s 50 day simple moving average is $22.64 and its 200 day simple moving average is $22.54. SB One Bancorp has a fifty-two week low of $19.30 and a fifty-two week high of $27.15. The firm has a market capitalization of $220.04 million, a price-to-earnings ratio of 12.51 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97.

SB One Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. SB One Bancorp had a net margin of 21.20% and a return on equity of 10.09%. The business had revenue of $19.38 million for the quarter, compared to analyst estimates of $18.20 million. As a group, analysts predict that SB One Bancorp will post 2.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.085 per share. This is a positive change from SB One Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.34 annualized dividend and a yield of 1.46%. SB One Bancorp’s dividend payout ratio (DPR) is presently 18.28%.

In related news, Director Edward J. Leppert bought 1,500 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $22.89 per share, for a total transaction of $34,335.00. Following the acquisition, the director now owns 28,227 shares of the company’s stock, valued at approximately $646,116.03. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO George Lista sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $23.90, for a total transaction of $59,750.00. Following the sale, the chief executive officer now owns 76,936 shares in the company, valued at $1,838,770.40. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in shares of SB One Bancorp by 62.9% in the second quarter. Acadian Asset Management LLC now owns 1,833 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 708 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings 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 last quarter. Marshall Wace LLP acquired a new stake in shares of SB One Bancorp in the first quarter valued at approximately $40,000. Wells Fargo & Company MN raised its holdings in shares of SB One Bancorp by 14.4% in the second quarter. Wells Fargo & Company MN now owns 19,968 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 2,508 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SB One Bancorp by 4.0% in the second quarter. Northern Trust Corp now owns 81,233 shares of the financial services provider’s stock valued at $1,815,000 after purchasing an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 43.06% 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.

Further Reading: How does new data get added to a blockchain?

Get a free copy of the Zacks research report on SB One Bancorp (SBBX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SB One Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SB One Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.