County Bancorp (NASDAQ:ICBK) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of County Bancorp (NASDAQ:ICBK) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “County Bancorp, Inc. is a bank holding company. It provides a range of consumer and commercial banking services to individuals, businesses, and industries. The basic services offered by the Bank include demand interest bearing and noninterest bearing accounts, money market deposit accounts, NOW accounts, time deposits, remote merchant deposit capture, Internet banking, cash management services, safe deposit services, credit cards, debit cards, direct deposits, notary services, night depository, cashiers’ checks, drive-in tellers, banking by mail, and the full range of consumer loans, both collateralized and uncollateralized. The Bank also makes secured and unsecured commercial loans, as well as loans secured by residential and commercial real estate, and issues stand-by letters of credit. County Bancorp, Inc. is headquartered in Manitowoc, Wisconsin. “

Shares of NASDAQ ICBK opened at $21.87 on Wednesday. The firm has a market cap of $137.12 million, a PE ratio of 35.85 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.94. County Bancorp has a 1-year low of $13.55 and a 1-year high of $27.19. The company has a fifty day moving average price of $22.23 and a 200 day moving average price of $20.20.

County Bancorp (NASDAQ:ICBK) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.30. The firm had revenue of $12.33 million during the quarter, compared to analyst estimates of $12.15 million. County Bancorp had a net margin of 6.13% and a return on equity of 5.76%. Equities research analysts forecast that County Bancorp will post 1.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Stockholders of record on Friday, December 4th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from County Bancorp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, December 3rd. County Bancorp’s dividend payout ratio is currently 16.95%.

In other news, insider Mark Andrew Miller sold 2,000 shares of the stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $20.23, for a total transaction of $40,460.00. Following the completion of the transaction, the insider now directly owns 29,298 shares in the company, valued at approximately $592,698.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wayne D. Mueller sold 29,948 shares of the stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $20.79, for a total transaction of $622,618.92. Over the last 90 days, insiders have sold 45,889 shares of company stock valued at $962,660. Company insiders own 24.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. bought a new position in County Bancorp in the 2nd quarter valued at about $280,000. Bank of New York Mellon Corp bought a new position in shares of County Bancorp during the second quarter worth approximately $345,000. Bank of America Corp DE increased its holdings in shares of County Bancorp by 115.1% during the second quarter. Bank of America Corp DE now owns 11,354 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 6,076 shares during the period. UBS Group AG bought a new position in shares of County Bancorp during the second quarter worth approximately $48,000. Finally, Bridgeway Capital Management Inc. increased its holdings in shares of County Bancorp by 31.9% during the second quarter. Bridgeway Capital Management Inc. now owns 66,137 shares of the financial services provider’s stock worth $1,384,000 after purchasing an additional 16,000 shares during the period. Institutional investors and hedge funds own 25.89% of the company’s stock.

About County Bancorp

County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin. It accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.

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