Sei Investments Co. Invests $122,000 in SB One Bancorp (NASDAQ:SBBX) Stock

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Sei Investments Co. acquired a new stake in SB One Bancorp (NASDAQ:SBBX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,093 shares of the financial services provider’s stock, valued at approximately $122,000. Sei Investments Co. owned 0.05% of SB One Bancorp at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBBX. Commonwealth Equity Services LLC purchased a new stake in SB One Bancorp during the 2nd quarter worth about $210,000. First Trust Advisors LP purchased a new stake in SB One Bancorp during the 2nd quarter worth about $333,000. Acadian Asset Management LLC increased its holdings in SB One Bancorp by 719.0% during the 2nd quarter. Acadian Asset Management LLC now owns 21,369 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 18,760 shares during the period. Victory Capital Management Inc. increased its holdings in SB One Bancorp by 192.5% during the 2nd quarter. Victory Capital Management Inc. now owns 37,200 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 24,484 shares during the period. Finally, John W. Rosenthal Capital Management Inc. purchased a new stake in SB One Bancorp during the 2nd quarter worth about $1,188,000. Hedge funds and other institutional investors own 50.73% of the company’s stock.

Several brokerages have weighed in on SBBX. Boenning Scattergood started coverage on SB One Bancorp in a report on Monday, October 1st. They set an “outperform” rating on the stock. ValuEngine cut SB One Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Hovde Group raised SB One Bancorp from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $33.00 to $30.00 in a research report on Friday, September 21st. Finally, Zacks Investment Research cut SB One Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $32.17.

In related news, Director Michael X. Mcbride acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was bought at an average cost of $27.50 per share, with a total value of $27,500.00. Following the transaction, the director now owns 6,425 shares of the company’s stock, valued at $176,687.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark J. Hontz sold 2,350 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $28.57, for a total value of $67,139.50. Following the transaction, the director now directly owns 11,213 shares of the company’s stock, valued at $320,355.41. The disclosure for this sale can be found here. Over the last three months, insiders purchased 7,540 shares of company stock valued at $201,389. Insiders own 10.50% of the company’s stock.

Shares of NASDAQ:SBBX traded down $0.13 on Friday, hitting $24.21. 86,391 shares of the company’s stock were exchanged, compared to its average volume of 32,776. The stock has a market cap of $199.83 million, a P/E ratio of 17.05 and a beta of 0.34. SB One Bancorp has a 1-year low of $23.65 and a 1-year high of $32.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.94 and a current ratio of 0.94.

SB One Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The business had revenue of $13.87 million for the quarter, compared to analyst estimates of $13.90 million. SB One Bancorp had a return on equity of 9.30% and a net margin of 12.21%. On average, equities research analysts predict that SB One Bancorp will post 1.94 EPS for the current year.

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.

Further Reading: Marijuana Stocks Investing Considerations

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

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