County Bancorp Inc (ICBK) Position Raised by Context BH Capital Management LP
Context BH Capital Management LP increased its position in shares of County Bancorp Inc (NASDAQ:ICBK) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,454 shares of the financial services provider’s stock after purchasing an additional 10,038 shares during the quarter. Context BH Capital Management LP’s holdings in County Bancorp were worth $1,662,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of County Bancorp by 1.3% during the third quarter. BlackRock Inc. now owns 238,146 shares of the financial services provider’s stock worth $5,977,000 after buying an additional 3,001 shares during the period. Strs Ohio boosted its stake in shares of County Bancorp by 28.6% during the fourth quarter. Strs Ohio now owns 9,900 shares of the financial services provider’s stock worth $171,000 after buying an additional 2,200 shares during the period. First Manhattan Co. boosted its stake in shares of County Bancorp by 64.5% during the fourth quarter. First Manhattan Co. now owns 12,337 shares of the financial services provider’s stock worth $214,000 after buying an additional 4,837 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of County Bancorp by 84.0% during the fourth quarter. Bank of New York Mellon Corp now owns 34,692 shares of the financial services provider’s stock worth $602,000 after buying an additional 15,835 shares during the period. Finally, Banc Funds Co. LLC boosted its stake in shares of County Bancorp by 6.2% during the fourth quarter. Banc Funds Co. LLC now owns 289,731 shares of the financial services provider’s stock worth $5,091,000 after buying an additional 17,000 shares during the period. Institutional investors and hedge funds own 28.30% of the company’s stock.
In other news, Director Patrick J. Roe purchased 4,357 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $17.51 per share, with a total value of $76,291.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 6,737 shares of company stock valued at $119,331 over the last three months. 23.30% of the stock is currently owned by corporate insiders.
County Bancorp (NASDAQ:ICBK) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The firm had revenue of $13.31 million during the quarter, compared to analysts’ expectations of $12.77 million. County Bancorp had a net margin of 18.32% and a return on equity of 9.76%. As a group, sell-side analysts predict that County Bancorp Inc will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.20 annualized dividend and a yield of 1.15%. County Bancorp’s dividend payout ratio is currently 9.80%.
ICBK has been the subject of several recent research reports. DA Davidson decreased their target price on shares of County Bancorp to $23.00 and set an “average” rating for the company in a research note on Tuesday, February 12th. Zacks Investment Research cut shares of County Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Hovde Group cut shares of County Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $20.00 in a report on Friday, February 15th. Sandler O’Neill raised shares of County Bancorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $18.00 to $20.00 in a report on Monday, April 22nd. Finally, FIG Partners reissued a “market-perform” rating on shares of County Bancorp in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.40.
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County Bancorp Company Profile
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. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.
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