$18.97 Million in Sales Expected for SB One Bancorp (NASDAQ:SBBX) This Quarter

Wall Street analysts predict that SB One Bancorp (NASDAQ:SBBX) will post sales of $18.97 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for SB One Bancorp’s earnings, with the lowest sales estimate coming in at $18.80 million and the highest estimate coming in at $19.10 million. SB One Bancorp posted sales of $19.38 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The firm is scheduled to issue its next earnings results on Thursday, July 23rd.

On average, analysts expect that SB One Bancorp will report full year sales of $76.33 million for the current year, with estimates ranging from $76.10 million to $76.80 million. For the next year, analysts forecast that the company will report sales of $80.90 million, with estimates ranging from $80.70 million to $81.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for SB One Bancorp.

SB One Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. SB One Bancorp had a net margin of 22.33% and a return on equity of 10.39%. The business had revenue of $18.86 million for the quarter, compared to analyst estimates of $19.23 million.

Several research analysts recently weighed in on the stock. DA Davidson lowered shares of SB One Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Zacks Investment Research lowered shares of SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, May 22nd. ValuEngine lowered shares of SB One Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, Boenning Scattergood lowered shares of SB One Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, March 13th.

In related news, CFO Adriano M. Duarte bought 1,820 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $29,120.00. Following the acquisition, the chief financial officer now owns 16,041 shares of the company’s stock, valued at approximately $256,656. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 14.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of SB One Bancorp in the first quarter valued at approximately $40,000. Citigroup Inc. raised its holdings in shares of SB One Bancorp by 94.3% in the first quarter. Citigroup Inc. now owns 3,556 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,726 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of SB One Bancorp by 31.9% in the fourth quarter. Acadian Asset Management LLC now owns 3,954 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 957 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of SB One Bancorp by 36.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 4,775 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of SB One Bancorp by 100.9% in the fourth quarter. Barclays PLC now owns 8,340 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 4,188 shares during the last quarter. Institutional investors own 42.91% of the company’s stock.

SB One Bancorp stock traded up $1.54 during midday trading on Monday, hitting $19.12. 35,493 shares of the stock were exchanged, compared to its average volume of 33,625. The company has a fifty day simple moving average of $17.32 and a two-hundred day simple moving average of $20.29. SB One Bancorp has a 52 week low of $10.96 and a 52 week high of $25.24. The stock has a market capitalization of $165.52 million, a PE ratio of 7.59 and a beta of 0.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.34.

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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