Clover Partners L.P. lowered its position in shares of Sussex Bancorp (NASDAQ:SBBX) by 74.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 114,874 shares of the financial services provider’s stock after selling 342,027 shares during the quarter. Sussex Bancorp comprises about 2.9% of Clover Partners L.P.’s portfolio, making the stock its 17th largest position. Clover Partners L.P. owned about 1.45% of Sussex Bancorp worth $3,084,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Basswood Capital Management L.L.C. lifted its position in Sussex Bancorp by 3.4% during the 4th quarter. Basswood Capital Management L.L.C. now owns 594,167 shares of the financial services provider’s stock worth $15,953,000 after acquiring an additional 19,341 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Sussex Bancorp by 73.0% in the 2nd 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of Sussex Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 99,943 shares of the financial services provider’s stock valued at $2,474,000 after buying an additional 2,979 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Sussex Bancorp by 4.4% in the 4th quarter. Wells Fargo & Company MN now owns 65,347 shares of the financial services provider’s stock valued at $1,754,000 after buying an additional 2,732 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Sussex Bancorp in the 4th quarter valued at about $1,732,000. 37.30% of the stock is owned by institutional investors.
Sussex Bancorp (NASDAQ SBBX) opened at $31.20 on Wednesday. The stock has a market capitalization of $244.10, a PE ratio of 21.24 and a beta of 0.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.88. Sussex Bancorp has a fifty-two week low of $19.75 and a fifty-two week high of $32.85.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were paid a $0.06 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. Sussex Bancorp’s dividend payout ratio is presently 21.82%.
In related news, CEO George Lista sold 2,000 shares of Sussex Bancorp stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the transaction, the chief executive officer now owns 78,553 shares in the company, valued at approximately $2,286,677.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.60% of the stock is owned by insiders.
SBBX has been the subject of several analyst reports. Zacks Investment Research cut Sussex Bancorp from a “strong-buy” rating to a “sell” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $32.50 price objective on shares of Sussex Bancorp in a report on Friday, December 22nd. ValuEngine cut Sussex Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Hovde Group cut Sussex Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price objective for the company. in a report on Monday, March 5th.
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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.
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