County Bancorp, Inc. (NASDAQ:ICBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, July 24th.
According to Zacks, “County Bancorp, Inc. is a bank holding company. It provides a range of consumer and commercial banking services to individuals, businesses, and industries. The basic services offered by the Bank include demand interest bearing and noninterest bearing accounts, money market deposit accounts, NOW accounts, time deposits, remote merchant deposit capture, Internet banking, cash management services, safe deposit services, credit cards, debit cards, direct deposits, notary services, night depository, cashiers’ checks, drive-in tellers, banking by mail, and the full range of consumer loans, both collateralized and uncollateralized. The Bank also makes secured and unsecured commercial loans, as well as loans secured by residential and commercial real estate, and issues stand-by letters of credit. County Bancorp, Inc. is headquartered in Manitowoc, Wisconsin. “
Other research analysts have also issued reports about the stock. Maxim Group reissued a “buy” rating and set a $33.00 target price on shares of County Bancorp in a research note on Thursday, July 20th. Robert W. Baird lowered shares of County Bancorp from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $30.00 to $31.00 in a research note on Monday, April 24th.
County Bancorp (NASDAQ:ICBK) last posted its 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 firm had revenue of $11.41 million for the quarter, compared to analyst estimates of $11.36 million. County Bancorp had a net margin of 19.27% and a return on equity of 9.04%. Equities research analysts expect that County Bancorp will post $1.56 EPS for the current year.
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In other County Bancorp news, President Timothy J. Schneider sold 1,338 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $25.00, for a total transaction of $33,450.00. Following the sale, the president now directly owns 111,583 shares in the company, valued at approximately $2,789,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy J. Schneider sold 2,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $25.04, for a total transaction of $50,080.00. Following the sale, the president now owns 124,658 shares in the company, valued at $3,121,436.32. The disclosure for this sale can be found here. Insiders have sold a total of 15,650 shares of company stock worth $391,550 over the last 90 days. 26.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in County Bancorp by 17.6% in the second quarter. Royce & Associates LP now owns 113,495 shares of the financial services provider’s stock worth $2,724,000 after buying an additional 16,995 shares during the last quarter. Bank of New York Mellon Corp increased its stake in County Bancorp by 14.0% in the second quarter. Bank of New York Mellon Corp now owns 16,530 shares of the financial services provider’s stock worth $397,000 after buying an additional 2,034 shares during the last quarter. First Manhattan Co. increased its stake in County Bancorp by 50.0% in the second quarter. First Manhattan Co. now owns 7,500 shares of the financial services provider’s stock worth $180,000 after buying an additional 2,500 shares during the last quarter. 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 worth $861,000 after buying an additional 5,055 shares during the last quarter. Finally, Legacy Private Trust Co. increased its stake 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 worth $357,000 after buying an additional 3,605 shares during the last quarter. Institutional investors and hedge funds own 27.65% of the company’s stock.
County Bancorp Company Profile
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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