County Bancorp (ICBK) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of County Bancorp (NASDAQ:ICBK) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $31.00 target price on the financial services provider’s stock.

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. “

Other research analysts have also recently issued research reports about the company. Maxim Group restated a buy rating and set a $33.00 price objective on shares of County Bancorp in a research note on Monday, October 23rd. DA Davidson assumed coverage on County Bancorp in a research note on Friday, February 9th. They set a neutral rating and a $31.00 price objective on the stock. Hovde Group assumed coverage on County Bancorp in a research note on Tuesday, January 23rd. They set a market perform rating and a $34.00 price objective on the stock. TheStreet upgraded County Bancorp from a c rating to a b- rating in a research note on Tuesday, January 16th. Finally, ValuEngine cut County Bancorp from a buy rating to a hold rating in a research note on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $32.40.

Shares of County Bancorp (NASDAQ ICBK) traded up $0.20 during trading on Wednesday, reaching $28.10. The company had a trading volume of 4,500 shares, compared to its average volume of 12,319. The firm has a market capitalization of $186.19, a PE ratio of 18.73, a P/E/G ratio of 1.62 and a beta of 0.35. County Bancorp has a 52-week low of $22.73 and a 52-week high of $35.89. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.09.

County Bancorp (NASDAQ:ICBK) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). The company had revenue of $12.16 million for the quarter, compared to analyst estimates of $11.97 million. County Bancorp had a return on equity of 8.10% and a net margin of 19.80%. analysts predict that County Bancorp will post 2.15 EPS for the current fiscal year.

In related news, CFO Glen L. Stiteley acquired 1,615 shares of County Bancorp stock in a transaction on Wednesday, January 24th. The shares were bought at an average price of $30.84 per share, for a total transaction of $49,806.60. Following the completion of the purchase, the chief financial officer now directly owns 5,109 shares in the company, valued at approximately $157,561.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of County Bancorp by 92.7% during the fourth quarter. Deutsche Bank AG now owns 15,976 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 7,685 shares during the last quarter. Context BH Capital Management LP purchased a new stake in shares of County Bancorp during the fourth quarter worth about $517,000. Wells Fargo & Company MN increased its position in shares of County Bancorp by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 7,313 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 2,365 shares during the last quarter. WoodTrust Financial Corp purchased a new stake in shares of County Bancorp during the fourth quarter worth about $238,000. Finally, Royce & Associates LP increased its position in shares of County Bancorp by 45.9% during the third quarter. Royce & Associates LP now owns 165,595 shares of the financial services provider’s stock worth $4,976,000 after acquiring an additional 52,100 shares during the last quarter. 27.42% of the stock is currently owned by institutional investors and hedge funds.

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County Bancorp Company Profile

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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