County Bancorp (ICBK) Downgraded to “Hold” at Zacks Investment Research

County Bancorp (NASDAQ:ICBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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 equities research analysts also recently issued reports on ICBK. Maxim Group reissued a “buy” rating and set a $29.00 price objective on shares of County Bancorp in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of County Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 21st. TheStreet cut shares of County Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, November 26th. Finally, DA Davidson raised shares of County Bancorp from a “neutral” rating to a “buy” rating in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.00.

NASDAQ ICBK opened at $18.45 on Thursday. The stock has a market capitalization of $116.53 million, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.97 and a beta of 0.72. County Bancorp has a twelve month low of $16.74 and a twelve month high of $31.51. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05.

County Bancorp (NASDAQ:ICBK) last issued its quarterly earnings data on Monday, February 11th. The financial services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.13). County Bancorp had a return on equity of 9.93% and a net margin of 19.40%. The firm had revenue of $13.06 million for the quarter, compared to the consensus estimate of $12.93 million. As a group, research analysts anticipate that County Bancorp will post 2.16 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio lifted its stake in County Bancorp by 28.6% in the fourth quarter. Strs Ohio now owns 9,900 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 2,200 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of County Bancorp by 41.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,600 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 3,100 shares during the period. First Manhattan Co. lifted its position in shares of County Bancorp by 64.5% during the 4th quarter. First Manhattan Co. now owns 12,337 shares of the financial services provider’s stock valued at $214,000 after buying an additional 4,837 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of County Bancorp by 58.3% during the 2nd quarter. Renaissance Technologies LLC now owns 16,700 shares of the financial services provider’s stock valued at $459,000 after buying an additional 6,148 shares in the last quarter. Finally, Eidelman Virant Capital purchased a new position in County Bancorp in the 3rd quarter worth approximately $487,000. Institutional investors and hedge funds own 26.61% of the company’s stock.

County Bancorp Company Profile

County Bancorp, Inc operates as the bank holding company for Investors Community Bank that provides a range of banking and related financial services to individuals, businesses, and industries 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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