First Manhattan Co. increased its stake in County Bancorp, Inc. (NASDAQ:ICBK) by 50.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the financial services provider’s stock after buying an additional 2,500 shares during the period. First Manhattan Co.’s holdings in County Bancorp were worth $180,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ICBK. Emerald Mutual Fund Advisers Trust increased its stake in County Bancorp by 16.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 35,869 shares of the financial services provider’s stock valued at $861,000 after buying an additional 5,055 shares in the last quarter. Legacy Private Trust Co. boosted its position in County Bancorp by 32.0% in the second quarter. Legacy Private Trust Co. now owns 14,880 shares of the financial services provider’s stock valued at $357,000 after buying an additional 3,605 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in County Bancorp during the first quarter valued at $1,116,000. Geode Capital Management LLC boosted its position in County Bancorp by 7.2% in the first quarter. Geode Capital Management LLC now owns 38,117 shares of the financial services provider’s stock valued at $1,107,000 after buying an additional 2,552 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in County Bancorp by 16.6% in the first quarter. Martingale Asset Management L P now owns 16,204 shares of the financial services provider’s stock valued at $471,000 after buying an additional 2,301 shares during the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.
County Bancorp, Inc. (NASDAQ ICBK) opened at 24.72 on Friday. County Bancorp, Inc. has a 12-month low of $19.50 and a 12-month high of $35.89. The stock has a 50 day moving average of $24.67 and a 200 day moving average of $26.78. The company has a market cap of $164.17 million, a PE ratio of 15.20 and a beta of 0.52.
County Bancorp (NASDAQ:ICBK) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.16. The company had revenue of $11.41 million during the quarter, compared to the consensus estimate of $11.36 million. County Bancorp had a net margin of 19.27% and a return on equity of 9.04%. Equities analysts expect that County Bancorp, Inc. will post $1.56 earnings per share for the current year.
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Several research firms have recently weighed in on ICBK. Zacks Investment Research cut shares of County Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Maxim Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of County Bancorp in a report on Thursday, July 20th. Finally, Robert W. Baird cut shares of County Bancorp from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $31.00 in a report on Monday, April 24th.
In related news, Director Andrew J. Steimle purchased 1,200 shares of County Bancorp stock in a transaction on Wednesday, May 31st. The shares were bought at an average cost of $25.38 per share, for a total transaction of $30,456.00. Following the acquisition, the director now owns 13,700 shares in the company, valued at approximately $347,706. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Timothy J. Schneider sold 1,338 shares of County Bancorp stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $25.00, for a total transaction of $33,450.00. Following the completion of the sale, the president now owns 111,583 shares in the company, valued at $2,789,575. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,650 shares of company stock worth $391,550. 26.30% of the stock is currently owned by insiders.
About County Bancorp
County Bancorp, Inc is a bank holding company. The Company’s primary activities consist of holding the stock of its subsidiary bank, Investors Community Bank (the Bank), and providing banking and related business activities through the Bank and its other subsidiaries. It operates in the community banking segment.
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