County Bancorp, Inc. (ICBK) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS
County Bancorp, Inc. (NASDAQ:ICBK) released its quarterly earnings results on Friday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08, Bloomberg Earnings reports. County Bancorp had a return on equity of 9.04% and a net margin of 19.27%. The company had revenue of $12.05 million during the quarter, compared to analysts’ expectations of $11.97 million.
County Bancorp (ICBK) traded down 1.69% on Friday, hitting $29.60. The stock had a trading volume of 3,165 shares. County Bancorp has a 1-year low of $19.56 and a 1-year high of $35.89. The firm’s 50-day moving average price is $30.09 and its 200-day moving average price is $26.85. The firm has a market cap of $196.57 million, a P/E ratio of 18.20 and a beta of 0.47.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.06 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.24 annualized dividend and a dividend yield of 0.81%. County Bancorp’s payout ratio is 14.72%.
In other news, Director Gary J. Ziegelbauer sold 3,367 shares of County Bancorp stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.62, for a total value of $103,097.54. Following the completion of the sale, the director now directly owns 405,518 shares of the company’s stock, valued at approximately $12,416,961.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy J. Schneider sold 1,338 shares of County Bancorp stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $25.00, for a total value of $33,450.00. Following the completion of the sale, the president now directly owns 111,583 shares of the company’s stock, valued at $2,789,575. The disclosure for this sale can be found here. Insiders sold a total of 7,869 shares of company stock valued at $215,936 over the last three months. Insiders own 26.30% of the company’s stock.
A hedge fund recently raised its stake in County Bancorp stock. State Street Corp grew its position in County Bancorp, Inc. (NASDAQ:ICBK) by 12.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 64,821 shares of the financial services provider’s stock after buying an additional 7,323 shares during the period. State Street Corp owned 0.98% of County Bancorp worth $1,557,000 at the end of the most recent reporting period. Institutional investors own 27.11% of the company’s stock.
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Several research analysts have recently issued reports on ICBK shares. Zacks Investment Research cut County Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Maxim Group reissued a “buy” rating and issued a $33.00 price target on shares of County Bancorp in a research note on Thursday, July 20th.
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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