Zacks: Brokerages Anticipate SB One Bancorp (SBBX) to Announce $0.52 EPS

Wall Street brokerages forecast that SB One Bancorp (NASDAQ:SBBX) will post earnings per share (EPS) of $0.52 for the current quarter, Zacks reports. Two analysts have provided estimates for SB One Bancorp’s earnings, with estimates ranging from $0.49 to $0.55. SB One Bancorp reported earnings per share of $0.35 during the same quarter last year, which would indicate a positive year over year growth rate of 48.6%. The firm is scheduled to report its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that SB One Bancorp will report full year earnings of $1.88 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $2.37 per share, with EPS estimates ranging from $2.35 to $2.39. Zacks’ EPS averages are an average based on a survey of research analysts that cover SB One Bancorp.

SB One Bancorp (NASDAQ:SBBX) last announced its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm had revenue of $13.51 million during the quarter, compared to the consensus estimate of $14.20 million. SB One Bancorp had a net margin of 13.22% and a return on equity of 9.68%.

A number of brokerages recently commented on SBBX. Hovde Group upgraded shares of SB One Bancorp from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $33.00 to $30.00 in a research report on Friday, September 21st. Zacks Investment Research raised shares of SB One Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Boenning Scattergood initiated coverage on shares of SB One Bancorp in a research note on Monday, October 1st. They set an “outperform” rating for the company. Finally, ValuEngine cut shares of SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. SB One Bancorp currently has an average rating of “Hold” and a consensus target price of $32.17.

In other SB One Bancorp news, CEO George Lista sold 2,000 shares of SB One Bancorp stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $27.46, for a total value of $54,920.00. Following the completion of the sale, the chief executive officer now directly owns 82,543 shares of the company’s stock, valued at approximately $2,266,630.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Leppert bought 5,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was purchased at an average cost of $26.50 per share, with a total value of $132,500.00. Following the completion of the purchase, the director now directly owns 57,182 shares in the company, valued at approximately $1,515,323. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 8,890 shares of company stock valued at $228,707. Corporate insiders own 10.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SBBX. Sei Investments Co. bought a new stake in shares of SB One Bancorp during the 2nd quarter valued at about $122,000. Bank of America Corp DE bought a new position in SB One Bancorp in the 2nd quarter worth about $123,000. Commonwealth Equity Services LLC bought a new position in SB One Bancorp in the 2nd quarter worth about $210,000. First Trust Advisors LP grew its position in SB One Bancorp by 88.3% in the 3rd quarter. First Trust Advisors LP now owns 21,107 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in SB One Bancorp by 26.9% in the 3rd quarter. Victory Capital Management Inc. now owns 47,200 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 10,000 shares during the last quarter. 48.68% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SBBX traded down $0.16 during mid-day trading on Monday, reaching $24.04. The stock had a trading volume of 10 shares, compared to its average volume of 14,157. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. The company has a market cap of $192.62 million, a P/E ratio of 16.93 and a beta of 0.38. SB One Bancorp has a twelve month low of $21.70 and a twelve month high of $32.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, November 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.25%. SB One Bancorp’s dividend payout ratio (DPR) is 21.13%.

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.

See Also: Hedge Funds

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Earnings History and Estimates for SB One Bancorp (NASDAQ:SBBX)

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