ValuEngine Upgrades Sussex Bancorp (SBBX) to Buy

Sussex Bancorp (NASDAQ:SBBX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other equities analysts have also weighed in on SBBX. Zacks Investment Research lowered shares of Sussex Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Keefe, Bruyette & Woods restated a “buy” rating and set a $32.50 target price on shares of Sussex Bancorp in a research report on Friday, December 22nd.

Shares of Sussex Bancorp (NASDAQ:SBBX) traded up $0.15 during midday trading on Thursday, hitting $28.25. 3,852 shares of the stock were exchanged, compared to its average volume of 26,873. 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 $223.20, a PE ratio of 25.68 and a beta of 0.49. Sussex Bancorp has a 1 year low of $19.75 and a 1 year high of $29.70.

Sussex Bancorp (NASDAQ:SBBX) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. Sussex Bancorp had a net margin of 12.94% and a return on equity of 9.29%. The firm had revenue of $9.83 million during the quarter, compared to analyst estimates of $9.80 million. sell-side analysts expect that Sussex Bancorp will post 1.83 earnings per share for the current fiscal year.

In related news, EVP Sergio Enzo Musacchio sold 1,199 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $26.32, for a total transaction of $31,557.68. Following the completion of the transaction, the executive vice president now owns 3,448 shares in the company, valued at $90,751.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.60% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its position in shares of 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 last quarter. Alpine Woods Capital Investors LLC bought a new position in Sussex Bancorp during the third quarter valued at $231,000. Victory Capital Management Inc. bought a new position in Sussex Bancorp during the fourth quarter valued at $342,000. Stifel Financial Corp bought a new position in Sussex Bancorp during the second quarter valued at $520,000. Finally, Wells Fargo & Company MN lifted 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 valued at $1,556,000 after purchasing an additional 13,378 shares during the last quarter. Hedge funds and other institutional investors own 41.12% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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