County Bancorp’s (ICBK) “Buy” Rating Reiterated at Maxim Group

Maxim Group restated their buy rating on shares of County Bancorp (NASDAQ:ICBK) in a report issued on Friday morning, AnalystRatings.com reports. They currently have a $23.00 price objective on the financial services provider’s stock.

“ICBK reported 2Q19 EPS of $0.53 versus consensus of $0.49. The beat was due to lower core expenses and modest loan loss provisioning, reflecting an improved credit outlook for dairy loans, given the recent increase in forward milk prices. We are raising our 2020 EPS estimate to $2.05, mainly due to lower expenses. We are maintaining our price target at $23, which equates to a 2020 P/E multiple of 11.2x (versus 11.5x previously), inline with relevant small-cap bank peers.”,” the firm’s analyst commented.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Sandler O’Neill set a $60.00 price target on Eagle Bancorp and gave the stock a buy rating in a research note on Monday, April 22nd. Finally, FIG Partners restated an outperform rating on shares of SmartFinancial in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.20.

Shares of ICBK stock opened at $17.42 on Friday. County Bancorp has a fifty-two week low of $16.24 and a fifty-two week high of $26.50. The stock has a market capitalization of $116.96 million, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.07 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50-day simple moving average is $17.43.

County Bancorp (NASDAQ:ICBK) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. County Bancorp had a return on equity of 9.54% and a net margin of 17.66%. The business had revenue of $13.32 million for the quarter, compared to analyst estimates of $12.59 million. As a group, equities analysts expect that County Bancorp will post 2.06 earnings per share for the current year.

In other news, Director Patrick J. Roe bought 4,876 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $17.20 per share, with a total value of $83,867.20. Following the completion of the acquisition, the director now directly owns 12,157 shares of the company’s stock, valued at approximately $209,100.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick J. Roe bought 4,357 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average cost of $17.51 per share, with a total value of $76,291.07. The disclosure for this purchase can be found here. Insiders have bought 10,508 shares of company stock worth $183,032 in the last 90 days. Insiders own 23.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ICBK. BlackRock Inc. increased its stake in shares of County Bancorp by 2.5% in the fourth quarter. BlackRock Inc. now owns 244,186 shares of the financial services provider’s stock worth $4,241,000 after buying an additional 6,040 shares during the period. Bank of New York Mellon Corp increased its stake in shares of County Bancorp by 84.0% in the fourth quarter. Bank of New York Mellon Corp now owns 34,692 shares of the financial services provider’s stock worth $602,000 after buying an additional 15,835 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of County Bancorp by 26.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,106 shares of the financial services provider’s stock worth $905,000 after buying an additional 10,927 shares during the period. Geode Capital Management LLC increased its stake in shares of County Bancorp by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,347 shares of the financial services provider’s stock worth $822,000 after buying an additional 2,380 shares during the period. Finally, Context BH Capital Management LP increased its stake in shares of County Bancorp by 7.0% in the fourth quarter. Context BH Capital Management LP now owns 84,416 shares of the financial services provider’s stock worth $1,466,000 after buying an additional 5,526 shares during the period. 28.30% of the stock is owned by hedge funds and other institutional investors.

County Bancorp Company Profile

County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits.

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