Zacks: Brokerages Set $27.17 Target Price for SB One Bancorp (NASDAQ:SBBX)

Shares of SB One Bancorp (NASDAQ:SBBX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $27.17 for the company and are forecasting that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also given SB One Bancorp an industry rank of 148 out of 255 based on the ratings given to related companies.

SBBX has been the topic of several analyst reports. Zacks Investment Research downgraded shares of SB One Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, September 20th. DA Davidson assumed coverage on shares of SB One Bancorp in a research note on Monday, November 25th. They issued a “buy” rating and a $27.00 target price on the stock.

Shares of SBBX traded up $0.16 during mid-day trading on Friday, reaching $23.83. The company’s stock had a trading volume of 732 shares, compared to its average volume of 13,510. The stock has a market cap of $220.21 million, a PE ratio of 12.78 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. SB One Bancorp has a 52 week low of $19.30 and a 52 week high of $24.34. The company’s fifty day moving average price is $22.87 and its two-hundred day moving average price is $22.61.

SB One Bancorp (NASDAQ:SBBX) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). SB One Bancorp had a return on equity of 10.19% and a net margin of 21.63%. The business had revenue of $17.79 million during the quarter, compared to the consensus estimate of $17.90 million. Research analysts anticipate that SB One Bancorp will post 2.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, November 5th. SB One Bancorp’s payout ratio is currently 18.28%.

In other SB One Bancorp news, CEO George Lista sold 2,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $22.27, for a total transaction of $44,540.00. Following the transaction, the chief executive officer now directly owns 77,436 shares of the company’s stock, valued at approximately $1,724,499.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.40% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in SB One Bancorp in the 1st quarter worth about $40,000. Acadian Asset Management LLC boosted its stake in SB One Bancorp by 62.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,833 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 708 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in SB One Bancorp in the 3rd quarter worth about $41,000. Steward Partners Investment Advisory LLC bought a new position in SB One Bancorp in the 2nd quarter worth about $78,000. Finally, Russell Investments Group Ltd. bought a new position in SB One Bancorp during the 3rd quarter valued at about $145,000. Institutional investors own 44.02% of the company’s stock.

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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