Maxim Group analyst Michael Diana maintained a Buy rating on County Bancorp (ICBK) today and set a price target of $23. The company’s shares opened today at $17.79, close to its 52-week low of $16.24.
Diana wrote:
“ICBK reported 1Q19 EPS of $0.54 (including $0.05 of non-recurring income) versus consensus of $0.52. The miss was due to planned shrinkage of the loan portfolio, by means of loan participations. Based on our newly-introduced 2020 EPS estimate of $2.00, we are lowering our price target to $23, from $25. Our new price target, equates to a 2020 P/E multiple of 11.5x, which is inline with relevant Small-Cap Bank peers. We maintain our Buy rating because of our increased confidence in: (1) a stable NIM; and, more importantly, (2) stable credit quality; and consequently (3) more positive investor sentiment toward the Wisconsin dairy industry.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.0% and a 60.7% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
County Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $22, a 23.7% upside from current levels. In a report released today, Sandler O’Neill also upgraded the stock to Buy with a $20 price target.
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The company has a one-year high of $29.09 and a one-year low of $16.24. Currently, County Bancorp has an average volume of 11.34K.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ICBK in relation to earlier this year.
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County Bancorp, Inc. is a bank holding company, which engages in the provision of banking and financial services. The company was founded by William C. Censky, Timothy J. Schneider, Wayne D. Mueller and Mark R. Binversie in May 1996 and is headquartered in Manitowoc, WI.
