County Bancorp (NASDAQ:ICBK) Stock Rating Lowered by Zacks Investment Research

County Bancorp (NASDAQ:ICBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

Several other analysts also recently weighed in on the company. ValuEngine raised County Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 9th. DA Davidson reiterated a “buy” rating on shares of County Bancorp in a research report on Monday, November 18th. Stephens cut County Bancorp from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Thursday, December 19th. Finally, Maxim Group set a $23.00 price target on County Bancorp and gave the company a “buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.83.

County Bancorp stock traded down $0.70 during mid-day trading on Wednesday, hitting $26.25. 464 shares of the company’s stock traded hands, compared to its average volume of 6,326. The firm has a 50 day moving average price of $26.15 and a 200 day moving average price of $21.35. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. The company has a market cap of $181.37 million, a PE ratio of 11.46 and a beta of 0.76. County Bancorp has a one year low of $16.24 and a one year high of $27.98.

County Bancorp (NASDAQ:ICBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $13.26 million for the quarter, compared to the consensus estimate of $13.22 million. County Bancorp had a net margin of 19.92% and a return on equity of 10.48%. On average, analysts expect that County Bancorp will post 2.38 earnings per share for the current fiscal year.

In related news, Director Gary J. Ziegelbauer sold 11,000 shares of County Bancorp stock in a transaction on Monday, December 9th. The stock was sold at an average price of $24.68, for a total value of $271,480.00. Following the transaction, the director now directly owns 381,091 shares in the company, valued at approximately $9,405,325.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WoodTrust Financial Corp acquired a new position in shares of County Bancorp in the 4th quarter worth $205,000. Legacy Private Trust Co. grew its holdings in shares of County Bancorp by 30.8% in the 4th quarter. Legacy Private Trust Co. now owns 17,495 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 4,115 shares during the last quarter. Millennium Management LLC grew its holdings in shares of County Bancorp by 362.6% in the 3rd quarter. Millennium Management LLC now owns 23,371 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 32,271 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of County Bancorp by 56.0% in the 3rd quarter. Ancora Advisors LLC now owns 37,268 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 13,373 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of County Bancorp by 330.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,902 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 26.28% of the company’s stock.

About County Bancorp

County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.

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