SB One Bancorp (NASDAQ:SBBX) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 83,600 shares, a drop of 12.1% from the September 30th total of 95,100 shares. Based on an average daily trading volume, of 17,200 shares, the short-interest ratio is presently 4.9 days. Currently, 1.0% of the shares of the company are short sold.
In other SB One Bancorp news, CEO George Lista sold 2,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $22.27, for a total transaction of $44,540.00. Following the transaction, the chief executive officer now owns 77,436 shares in the company, valued at approximately $1,724,499.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of SBBX. Marshall Wace LLP bought a new stake in SB One Bancorp in the first quarter worth approximately $40,000. Steward Partners Investment Advisory LLC bought a new stake in SB One Bancorp in the second quarter worth approximately $78,000. Kahn Brothers Group Inc. DE bought a new stake in SB One Bancorp in the second quarter worth approximately $452,000. Salzhauer Michael bought a new stake in SB One Bancorp in the second quarter worth approximately $237,000. Finally, Wells Fargo & Company MN increased its holdings in SB One Bancorp by 14.4% in the second quarter. Wells Fargo & Company MN now owns 19,968 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 2,508 shares in the last quarter. Institutional investors and hedge funds own 43.36% of the company’s stock.
SB One Bancorp (NASDAQ:SBBX) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). The business had revenue of $17.79 million during the quarter, compared to the consensus estimate of $17.90 million. SB One Bancorp had a return on equity of 10.19% and a net margin of 21.63%. On average, sell-side analysts anticipate that SB One Bancorp will post 2.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.34 dividend on an annualized basis and a yield of 1.48%. SB One Bancorp’s payout ratio is currently 18.28%.
SBBX has been the topic of a number of recent analyst reports. Zacks Investment Research cut SB One Bancorp from a “hold” rating to a “strong sell” rating in a research report on Friday, September 20th. ValuEngine upgraded SB One Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st.
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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