ValuEngine Downgrades SB One Bancorp (NASDAQ:SBBX) to Sell

SB One Bancorp (NASDAQ:SBBX) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

SBBX has been the topic of several other research reports. Boenning Scattergood cut SB One Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, March 13th. Zacks Investment Research lowered SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 31st. Finally, DA Davidson upgraded SB One Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.

SB One Bancorp stock traded up $1.00 during trading on Thursday, hitting $16.52. 20,332 shares of the company were exchanged, compared to its average volume of 35,640. The business’s 50 day moving average is $19.63 and its 200 day moving average is $22.56. SB One Bancorp has a 52 week low of $10.96 and a 52 week high of $25.24. The company has a market capitalization of $152.70 million, a P/E ratio of 6.88 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36.

SB One Bancorp (NASDAQ:SBBX) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. SB One Bancorp had a return on equity of 10.81% and a net margin of 23.32%. The business had revenue of $18.16 million for the quarter, compared to analysts’ expectations of $18.10 million. Equities analysts expect that SB One Bancorp will post 2.38 EPS for the current year.

In related news, CFO Adriano M. Duarte acquired 1,820 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was purchased at an average price of $16.00 per share, with a total value of $29,120.00. Following the completion of the purchase, the chief financial officer now owns 16,041 shares in the company, valued at approximately $256,656. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Labozzetta acquired 2,713 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of $13.51 per share, with a total value of $36,652.63. Following the purchase, the chief executive officer now owns 293,198 shares of the company’s stock, valued at approximately $3,961,104.98. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,033 shares of company stock valued at $85,288. 14.40% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of SB One Bancorp during the first quarter valued at approximately $40,000. Acadian Asset Management LLC raised its holdings in shares of SB One Bancorp by 31.9% during the fourth quarter. Acadian Asset Management LLC now owns 3,954 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 957 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of SB One Bancorp during the third quarter valued at approximately $145,000. FNY Investment Advisers LLC bought a new position in shares of SB One Bancorp during the fourth quarter valued at approximately $153,000. Finally, Barclays PLC raised its holdings in shares of SB One Bancorp by 100.9% during the fourth quarter. Barclays PLC now owns 8,340 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 4,188 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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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