Brokerages Set $29.00 Price Target for Sussex Bancorp (SBBX)

Sussex Bancorp (NASDAQ:SBBX) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $29.00 for the company and are predicting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also given Sussex Bancorp an industry rank of 108 out of 265 based on the ratings given to related companies.

A number of research analysts have weighed in on the company. ValuEngine downgraded Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research downgraded Sussex Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.50 price target on shares of Sussex Bancorp in a research note on Tuesday, October 3rd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banc Funds Co. LLC lifted its position in shares of Sussex Bancorp by 101.5% in the second quarter. Banc Funds Co. LLC now owns 524,767 shares of the financial services provider’s stock valued at $12,778,000 after buying an additional 264,320 shares during the last quarter. Seidman Lawrence B lifted its position in shares of Sussex Bancorp by 16.6% in the second quarter. Seidman Lawrence B now owns 296,417 shares of the financial services provider’s stock valued at $7,218,000 after buying an additional 42,100 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new stake in shares of Sussex Bancorp in the second quarter valued at approximately $3,751,000. Alliancebernstein L.P. lifted its position in shares of Sussex Bancorp by 86.9% in the second quarter. Alliancebernstein L.P. now owns 145,980 shares of the financial services provider’s stock valued at $3,555,000 after buying an additional 67,892 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Sussex Bancorp by 73.0% in the second quarter. Vanguard Group Inc. now owns 100,717 shares of the financial services provider’s stock valued at $2,493,000 after buying an additional 42,503 shares during the last quarter. 54.04% of the stock is owned by institutional investors.

Sussex Bancorp (SBBX) opened at $27.00 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $163.08, a PE ratio of 19.01 and a beta of 0.53. Sussex Bancorp has a fifty-two week low of $18.00 and a fifty-two week high of $28.55.

Sussex Bancorp (NASDAQ:SBBX) last posted its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. The business had revenue of $9.60 million during the quarter, compared to the consensus estimate of $9.60 million. Sussex Bancorp had a return on equity of 9.19% and a net margin of 15.97%. analysts anticipate that Sussex Bancorp will post 1.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.89%. Sussex Bancorp’s payout ratio is 18.18%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/03/brokerages-set-29-00-price-target-for-sussex-bancorp-sbbx.html.

Sussex Bancorp Company Profile

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.

Get a free copy of the Zacks research report on Sussex Bancorp (SBBX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sussex Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sussex Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply