SB One Bancorp (SBBX) Receives a Buy from Boenning & Scattergood


In a report released today, Erik Zwick from Boenning & Scattergood maintained a Buy rating on SB One Bancorp (SBBX), with a price target of $28. The company’s shares closed yesterday at $22.25.

Zwick wrote:

“We continue to see multiple catalysts for the stock to close the valuation gap with peers, including: 1) successful execution of acquisition-related cost saves, 2) improving profitability, and 3) above-peer organic balance sheet growth. We believe the risk/reward profile is favorable today, with shares trading at a discount to peers on both, P/E (8.7x 2019E vs. 11.7x peers) and P/TBV (1.3x vs. 1.4x peers) basis. Our rating remains Outperform with a price target of $28.”

According to TipRanks.com, Zwick is a 1-star analyst with an average return of -1.4% and a 44.4% success rate. Zwick covers the Financial sector, focusing on stocks such as The First Of Long Island Corp, Provident Financial Services, and Bankwell Financial Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SB One Bancorp with a $28 average price target.

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Based on SB One Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $5.82 million. In comparison, last year the company had a net profit of $1.31 million.

Based on the recent corporate insider activity of 164 insiders, corporate insider sentiment is negative on the stock.

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SB One Bancorp is a bank holding company, which engages in the provision of commercial banking services through the SB One Bank. It operates through Banking and Financial Services, and Insurance Services. Its services include personal and business checking accounts and time deposits, money market accounts and savings accounts.

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