SB One Bancorp (NASDAQ:SBBX) Expected to Announce Quarterly Sales of $18.97 Million

Wall Street brokerages predict that SB One Bancorp (NASDAQ:SBBX) will announce sales of $18.97 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for SB One Bancorp’s earnings, with estimates ranging from $18.80 million to $19.10 million. SB One Bancorp posted sales of $19.38 million in the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The business is scheduled to report its next quarterly 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 financial year, with estimates ranging from $76.10 million to $76.80 million. For the next fiscal year, analysts expect that the company will report sales of $80.90 million, with estimates ranging from $80.70 million to $81.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow SB One Bancorp.

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

SBBX has been the topic of a number of research analyst reports. ValuEngine lowered SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research lowered SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, May 22nd. Boenning Scattergood lowered SB One Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, March 13th. Finally, DA Davidson lowered SB One Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, May 8th.

In other SB One Bancorp news, CFO Adriano M. Duarte bought 1,820 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were purchased at an average price of $16.00 per share, with a total value of $29,120.00. Following the completion of the acquisition, the chief financial officer now directly owns 16,041 shares of the company’s stock, valued at approximately $256,656. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in 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 acquiring an additional 957 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in 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 acquiring an additional 1,275 shares in the last quarter. Geode Capital Management LLC boosted its stake in SB One Bancorp by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 84,556 shares of the financial services provider’s stock valued at $2,107,000 after acquiring an additional 1,343 shares in the last quarter. BlackRock Inc. boosted its stake in SB One Bancorp by 0.3% in the first quarter. BlackRock Inc. now owns 436,189 shares of the financial services provider’s stock valued at $7,416,000 after acquiring an additional 1,406 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of SB One Bancorp by 94.3% during the first quarter. Citigroup Inc. now owns 3,556 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,726 shares during the period. Institutional investors own 42.91% of the company’s stock.

NASDAQ SBBX traded up $1.54 on Monday, reaching $19.12. The stock had a trading volume of 35,493 shares, compared to its average volume of 33,625. The firm has a market capitalization of $165.52 million, a price-to-earnings 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 has a 12-month low of $10.96 and a 12-month high of $25.24. The stock has a fifty day moving average price of $17.32 and a two-hundred day moving average price of $20.29.

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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