Zacks: Analysts Set $28.67 Target Price for SB One Bancorp (NASDAQ:SBBX)

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

Brokerages have set a 1-year consensus price objective of $28.67 for the company and are predicting that the company will post $0.64 EPS for the current quarter, according to Zacks. Zacks has also assigned SB One Bancorp an industry rank of 150 out of 256 based on the ratings given to related companies.

A number of research firms have commented on SBBX. Zacks Investment Research lowered SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. ValuEngine raised shares of SB One Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, FIG Partners reaffirmed an “outperform” rating on shares of SB One Bancorp in a report on Wednesday, April 24th.

In other SB One Bancorp news, CEO George Lista sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $22.25, for a total value of $44,500.00. Following the completion of the sale, the chief executive officer now owns 86,543 shares of the company’s stock, valued at $1,925,581.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Mcnerney sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $22.77, for a total value of $56,925.00. Following the completion of the sale, the director now directly owns 4,197 shares of the company’s stock, valued at approximately $95,565.69. The disclosure for this sale can be found here. In the last 90 days, insiders bought 2,184 shares of company stock worth $49,441 and sold 11,107 shares worth $247,759. 14.40% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of SB One Bancorp by 3.0% during the fourth quarter. BlackRock Inc. now owns 370,328 shares of the financial services provider’s stock worth $7,568,000 after purchasing an additional 10,764 shares in the last quarter. Banc Funds Co. LLC boosted its stake in shares of SB One Bancorp by 17.6% in the 1st quarter. Banc Funds Co. LLC now owns 792,978 shares of the financial services provider’s stock valued at $17,223,000 after purchasing an additional 118,800 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of SB One Bancorp by 18.2% in the 1st quarter. Victory Capital Management Inc. now owns 55,800 shares of the financial services provider’s stock valued at $1,212,000 after purchasing an additional 8,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SB One Bancorp by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 172,749 shares of the financial services provider’s stock valued at $3,531,000 after purchasing an additional 29,846 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of SB One Bancorp by 18.2% in the 4th quarter. Bank of New York Mellon Corp now owns 29,591 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 4,552 shares in the last quarter. 41.69% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SBBX traded up $0.59 during midday trading on Friday, hitting $22.84. 11,736 shares of the company were exchanged, compared to its average volume of 25,405. The company has a fifty day simple moving average of $22.65 and a 200 day simple moving average of $22.48. SB One Bancorp has a fifty-two week low of $19.30 and a fifty-two week high of $28.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $218.26 million, a PE ratio of 12.28 and a beta of 0.66.

SB One Bancorp (NASDAQ:SBBX) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The company had revenue of $19.38 million for the quarter, compared to the consensus estimate of $18.20 million. SB One Bancorp had a net margin of 21.20% and a return on equity of 10.09%. As a group, equities research analysts expect that SB One Bancorp will post 2.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, August 12th. This is an increase from SB One Bancorp’s previous quarterly dividend of $0.08. SB One Bancorp’s payout ratio is currently 18.28%.

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.

Featured Article: What are gap-down stocks?

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.