County Bancorp, Inc. (NASDAQ:ICBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

According to Zacks, “County Bancorp, Inc. is a bank holding company. It provides a range of consumer and commercial banking services to individuals, businesses, and industries. The basic services offered by the Bank include demand interest bearing and noninterest bearing accounts, money market deposit accounts, NOW accounts, time deposits, remote merchant deposit capture, Internet banking, cash management services, safe deposit services, credit cards, debit cards, direct deposits, notary services, night depository, cashiers’ checks, drive-in tellers, banking by mail, and the full range of consumer loans, both collateralized and uncollateralized. The Bank also makes secured and unsecured commercial loans, as well as loans secured by residential and commercial real estate, and issues stand-by letters of credit. County Bancorp, Inc. is headquartered in Manitowoc, Wisconsin. “

Several other research firms also recently issued reports on ICBK. Robert W. Baird downgraded County Bancorp from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $31.00 in a research note on Monday, April 24th. Maxim Group reissued a “buy” rating and set a $33.00 price objective on shares of County Bancorp in a research report on Thursday.

Shares of County Bancorp (NASDAQ ICBK) traded down 0.76% during mid-day trading on Monday, reaching $24.91. The company’s stock had a trading volume of 7,919 shares. County Bancorp has a 52-week low of $19.50 and a 52-week high of $35.89. The company has a market capitalization of $165.43 million, a PE ratio of 15.47 and a beta of 0.51. The firm’s 50 day moving average is $24.44 and its 200-day moving average is $26.92.

County Bancorp (NASDAQ:ICBK) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.16. County Bancorp had a net margin of 19.53% and a return on equity of 9.13%. The business had revenue of $11.41 million for the quarter, compared to analysts’ expectations of $11.36 million. Analysts forecast that County Bancorp will post $1.60 EPS for the current year.

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In related news, Director Kathi P. Seifert purchased 1,088 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were bought at an average price of $27.75 per share, with a total value of $30,192.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathi P. Seifert purchased 2,517 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was bought at an average cost of $27.97 per share, for a total transaction of $70,400.49. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,805 shares of company stock worth $154,538 and sold 13,769 shares worth $344,525. 26.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in shares of County Bancorp by 107.4% in the third quarter. Acrospire Investment Management LLC now owns 5,808 shares of the financial services provider’s stock valued at $116,000 after buying an additional 3,008 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in County Bancorp during the fourth quarter valued at about $142,000. ClariVest Asset Management LLC purchased a new stake in County Bancorp during the third quarter valued at about $165,000. California State Teachers Retirement System purchased a new stake in County Bancorp during the second quarter valued at about $208,000. Finally, Creative Planning purchased a new stake in County Bancorp during the second quarter valued at about $230,000. 27.31% of the stock is currently owned by institutional investors and hedge funds.

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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