SB One Bancorp (NASDAQ:SBBX) Expected to Post Quarterly Sales of $18.60 Million

Wall Street brokerages expect that SB One Bancorp (NASDAQ:SBBX) will post $18.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SB One Bancorp’s earnings, with the lowest sales estimate coming in at $18.50 million and the highest estimate coming in at $18.70 million. SB One Bancorp posted sales of $13.51 million in the same quarter last year, which would indicate a positive year over year growth rate of 37.7%. The business is scheduled to report its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that SB One Bancorp will report full year sales of $74.65 million for the current year, with estimates ranging from $74.20 million to $75.10 million. For the next year, analysts expect that the firm will post sales of $80.95 million, with estimates ranging from $80.40 million to $81.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for SB One Bancorp.

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 10.33%. The business had revenue of $19.38 million for the quarter, compared to analyst estimates of $18.20 million.

Several research analysts recently weighed in on the stock. ValuEngine raised shares of SB One Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. FIG Partners reissued an “outperform” rating on shares of SB One Bancorp in a research note on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.00.

SB One Bancorp stock traded down $0.07 during midday trading on Wednesday, hitting $22.75. 18,274 shares of the stock were exchanged, compared to its average volume of 24,029. The firm has a fifty day moving average price of $22.57. SB One Bancorp has a 52 week low of $19.30 and a 52 week high of $28.30. The stock has a market capitalization of $215.67 million, a PE ratio of 12.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a dividend of $0.085 per share. This is an increase from SB One Bancorp’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, August 12th. SB One Bancorp’s dividend payout ratio (DPR) is 16.13%.

In other SB One Bancorp news, CEO George Lista sold 2,007 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $21.96, for a total transaction of $44,073.72. Following the sale, the chief executive officer now directly owns 84,937 shares in the company, valued at approximately $1,865,216.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vito Giannola sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $22.50, for a total transaction of $202,500.00. Following the sale, the executive vice president now owns 62,712 shares in the company, valued at $1,411,020. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,184 shares of company stock worth $49,441 and have sold 17,607 shares worth $394,409. Company insiders own 14.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SBBX. BNP Paribas Arbitrage SA raised its holdings in SB One Bancorp by 515.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,513 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,267 shares during the period. Marshall Wace LLP acquired a new stake in SB One Bancorp during the 1st quarter worth approximately $40,000. Acadian Asset Management LLC raised its holdings in SB One Bancorp by 62.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,833 shares of the financial services provider’s stock worth $41,000 after buying an additional 708 shares during the period. Citigroup Inc. raised its holdings in SB One Bancorp by 29.2% during the 4th quarter. Citigroup Inc. now owns 2,537 shares of the financial services provider’s stock worth $52,000 after buying an additional 574 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in SB One Bancorp during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 41.34% 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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Earnings History and Estimates for SB One Bancorp (NASDAQ:SBBX)

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