SB One Bancorp (NASDAQ:SBBX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “SB One Bancorp is the holding company for SB One Bank a commercial bank. It offers financial products and services which includes checking and savings accounts, commercial and consumer loans, investment, insurance, fund transfer, cash management and online banking services. The company offers SB One Insurance Agency Inc. and wealth management services through Sussex Investment Services. SB One Bancorp, formerly known as Sussex Bancorp, is based in Rockaway, United States. “

A number of other equities analysts also recently commented on SBBX. Hovde Group upgraded SB One Bancorp from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $33.00 to $30.00 in a research note on Friday, September 21st. ValuEngine downgraded SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Boenning Scattergood started coverage on SB One Bancorp in a research note on Monday, October 1st. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.17.

SBBX stock traded down $1.19 during midday trading on Wednesday, reaching $23.35. The company had a trading volume of 15,818 shares, compared to its average volume of 11,374. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. SB One Bancorp has a fifty-two week low of $21.70 and a fifty-two week high of $32.85. The company has a market cap of $192.78 million, a P/E ratio of 16.44 and a beta of 0.34.

SB One Bancorp (NASDAQ:SBBX) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. SB One Bancorp had a return on equity of 9.68% and a net margin of 13.22%. The company had revenue of $13.51 million during the quarter, compared to the consensus estimate of $14.20 million. Analysts expect that SB One Bancorp will post 1.88 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. acquired a new position in shares of SB One Bancorp during the second quarter worth approximately $122,000. Bank of America Corp DE acquired a new position in shares of SB One Bancorp during the second quarter worth approximately $123,000. Commonwealth Equity Services LLC acquired a new position in shares of SB One Bancorp during the second quarter worth approximately $210,000. First Trust Advisors LP acquired a new position in shares of SB One Bancorp during the second quarter worth approximately $333,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of SB One Bancorp during the second quarter worth approximately $401,000. Institutional investors and hedge funds own 49.57% of the company’s stock.

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.

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