County Bancorp Inc. (ICBK) Given Consensus Recommendation of “Strong Buy” by Brokerages
County Bancorp Inc. (NASDAQ:ICBK) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $25.50 for the company and are forecasting that the company will post $0.47 EPS for the current quarter, according to Zacks. Zacks has also given County Bancorp an industry rank of 112 out of 265 based on the ratings given to related companies.
A number of research analysts have issued reports on ICBK shares. Stephens upgraded shares of County Bancorp from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 2nd. Robert W. Baird upped their target price on shares of County Bancorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, August 24th. Finally, Zacks Investment Research upgraded shares of County Bancorp from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 25th.
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Shares of County Bancorp (NASDAQ:ICBK) remained flat at $20.45 on Tuesday. The company had a trading volume of 53 shares. County Bancorp has a 12 month low of $18.12 and a 12 month high of $24.20. The company has a 50-day moving average of $20.55 and a 200-day moving average of $20.72. The stock has a market capitalization of $133.52 million, a PE ratio of 12.25 and a beta of 0.36.
County Bancorp (NASDAQ:ICBK) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.18. County Bancorp had a net margin of 22.32% and a return on equity of 11.40%. Equities analysts anticipate that County Bancorp will post $1.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.98%. County Bancorp’s payout ratio is currently 11.90%.
In other news, Director Wayne D. Mueller sold 10,000 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $20.19, for a total transaction of $201,900.00. Following the transaction, the director now directly owns 128,250 shares in the company, valued at approximately $2,589,367.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Timothy J. Schneider sold 2,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $21.12, for a total transaction of $42,240.00. Following the transaction, the president now owns 129,558 shares in the company, valued at $2,736,264.96. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in County Bancorp by 15,267.2% in the second quarter. BlackRock Fund Advisors now owns 113,871 shares of the financial services provider’s stock worth $2,348,000 after buying an additional 113,130 shares during the period. Royce & Associates LP increased its stake in County Bancorp by 8.2% in the first quarter. Royce & Associates LP now owns 102,500 shares of the financial services provider’s stock worth $2,058,000 after buying an additional 7,800 shares during the period. North Star Asset Management Inc. acquired a new stake in County Bancorp during the third quarter worth about $790,000. State Street Corp acquired a new stake in County Bancorp during the second quarter worth about $758,000. Finally, BlackRock Institutional Trust Company N.A. acquired a new stake in County Bancorp during the second quarter worth about $592,000. Institutional investors and hedge funds own 22.23% of the company’s stock.
About County Bancorp
County Bancorp, Inc is a bank holding company. The Company’s primary activities consist of holding the stock of its subsidiary bank, Investors Community Bank (the Bank), and providing banking and related business activities through the Bank and its other subsidiaries. It operates in the community banking segment.
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