Sussex Bancorp (SBBX) Receives Buy Rating from Keefe, Bruyette & Woods
Sussex Bancorp (NASDAQ:SBBX)‘s stock had its “buy” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a report released on Tuesday. They presently have a $28.50 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 18.01% from the company’s previous close.
Separately, Zacks Investment Research downgraded Sussex Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th.
Sussex Bancorp (NASDAQ SBBX) remained flat at $24.15 during trading on Tuesday. 6,058 shares of the company traded hands. The stock’s 50 day moving average price is $23.59 and its 200-day moving average price is $24.41. The company has a market cap of $143.72 million, a price-to-earnings ratio of 18.87 and a beta of 0.43. Sussex Bancorp has a 12-month low of $16.33 and a 12-month high of $28.55.
Sussex Bancorp (NASDAQ:SBBX) last released its earnings results on Friday, July 28th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Sussex Bancorp had a net margin of 15.13% and a return on equity of 9.43%. The firm had revenue of $8.71 million during the quarter, compared to analyst estimates of $9.10 million. Analysts predict that Sussex Bancorp will post $1.38 earnings per share for the current fiscal year.
In other news, Director Mark J. Hontz sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $23.94, for a total transaction of $50,274.00. Following the completion of the transaction, the director now directly owns 12,132 shares in the company, valued at $290,440.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Sussex Bancorp by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 99,943 shares of the financial services provider’s stock worth $2,474,000 after acquiring an additional 2,979 shares during the last quarter. Advisor Group Inc. increased its position in Sussex Bancorp by 161.2% during the second quarter. Advisor Group Inc. now owns 5,832 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 3,599 shares during the period. Hilton Capital Management LLC bought a new position in Sussex Bancorp during the second quarter worth $205,000. Wells Fargo & Company MN increased its position in Sussex Bancorp by 26.5% during the second quarter. Wells Fargo & Company MN now owns 63,914 shares of the financial services provider’s stock worth $1,556,000 after acquiring an additional 13,378 shares during the period. Finally, FNY Partners Fund LP bought a new position in Sussex Bancorp during the second quarter worth $371,000. 52.71% of the stock is owned by institutional investors.
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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