Zacks: Sussex Bancorp (SBBX) Given $16.38 Consensus Target Price by Brokerages
Sussex Bancorp (NASDAQ:SBBX) has received an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company.
Brokerages have set a 1-year consensus price objective of $16.38 for the company and are predicting that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also assigned Sussex Bancorp an industry rank of 112 out of 265 based on the ratings given to its competitors.
Several research firms recently issued reports on SBBX. TheStreet downgraded shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Hovde Group boosted their target price on shares of Sussex Bancorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Finally, Zacks Investment Research downgraded shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
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Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in Sussex Bancorp by 1.5% in the second quarter. Alliancebernstein L.P. now owns 139,460 shares of the financial services provider’s stock valued at $1,863,000 after buying an additional 2,000 shares during the last quarter. Basswood Capital Management L.L.C. raised its position in Sussex Bancorp by 72.0% in the second quarter. Basswood Capital Management L.L.C. now owns 109,386 shares of the financial services provider’s stock valued at $1,461,000 after buying an additional 45,778 shares during the period. Finally, Vanguard Group Inc. raised its position in Sussex Bancorp by 127.2% in the second quarter. Vanguard Group Inc. now owns 23,555 shares of the financial services provider’s stock valued at $315,000 after buying an additional 13,187 shares during the period. 27.82% of the stock is owned by institutional investors.
Sussex Bancorp (NASDAQ:SBBX) traded up 1.77% during trading on Thursday, hitting $17.25. The company’s stock had a trading volume of 10,113 shares. The firm has a market cap of $79.28 million, a PE ratio of 17.42 and a beta of 0.35. The company has a 50-day moving average of $16.21 and a 200 day moving average of $14.41. Sussex Bancorp has a one year low of $11.43 and a one year high of $17.40.
Sussex Bancorp (NASDAQ:SBBX) last released its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Sussex Bancorp had a net margin of 13.65% and a return on equity of 8.28%. On average, equities analysts forecast that Sussex Bancorp will post $1.08 earnings per share for the current year.
About Sussex Bancorp
Sussex Bancorp is a bank holding company for Sussex Bank (the Bank). The Company’s primary business is the ownership and supervision of the Bank. The Company has two business segments: banking and financial services, and insurance services. The Company, through the Bank, conducts a traditional commercial banking business, and offer services, including personal and business checking accounts and time deposits, money market accounts and savings accounts.
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