Bank of America Corp DE Invests $123,000 in SB One Bancorp (SBBX)

Bank of America Corp DE acquired a new stake in SB One Bancorp (NASDAQ:SBBX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,155 shares of the financial services provider’s stock, valued at approximately $123,000. Bank of America Corp DE owned approximately 0.05% of SB One Bancorp as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SBBX. Acadian Asset Management LLC boosted its position in SB One Bancorp by 719.0% during the second quarter. Acadian Asset Management LLC now owns 21,369 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 18,760 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in SB One Bancorp during the second quarter valued at $210,000. First Trust Advisors LP acquired a new stake in SB One Bancorp during the second quarter valued at $333,000. Victory Capital Management Inc. boosted its position in SB One Bancorp by 192.5% during the second quarter. Victory Capital Management Inc. now owns 37,200 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 24,484 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in SB One Bancorp during the second quarter valued at $122,000. 48.68% of the stock is owned by institutional investors.

NASDAQ SBBX opened at $24.22 on Friday. 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 debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $195.40 million, a price-to-earnings ratio of 17.06 and a beta of 0.38.

SB One Bancorp (NASDAQ:SBBX) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $14.20 million. Analysts anticipate that SB One Bancorp will post 1.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 26th. Shareholders of record on Monday, November 12th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $0.30 annualized dividend and a yield of 1.24%. SB One Bancorp’s dividend payout ratio (DPR) is currently 21.13%.

A number of analysts recently issued reports on the company. Zacks Investment Research cut SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Boenning Scattergood restated a “buy” rating on shares of SB One Bancorp in a report on Monday, October 29th. ValuEngine lowered SB One Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Hovde Group upgraded SB One Bancorp from a “market perform” rating to an “outperform” rating and cut their target price for the company from $33.00 to $30.00 in a report on Friday, September 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $32.17.

In related news, Director Richard Branca bought 3,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $24.35 per share, for a total transaction of $73,050.00. Following the completion of the acquisition, the director now directly owns 64,908 shares in the company, valued at $1,580,509.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George Lista sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $27.46, for a total value of $54,920.00. Following the transaction, the chief executive officer now owns 82,543 shares in the company, valued at $2,266,630.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 8,890 shares of company stock worth $228,707. Corporate insiders own 10.50% of the company’s stock.

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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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Institutional Ownership by Quarter for SB One Bancorp (NASDAQ:SBBX)

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