Sussex Bancorp (NASDAQ:SBBX)‘s stock had its “buy” rating reissued by investment analysts at Keefe, Bruyette & Woods in a report released on Tuesday. They presently have a $28.50 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 18.50% from the company’s current price.
Shares of Sussex Bancorp (NASDAQ:SBBX) opened at 24.05 on Tuesday. The stock has a market cap of $143.12 million, a P/E ratio of 18.79 and a beta of 0.43. The firm’s 50-day moving average price is $23.60 and its 200 day moving average price is $24.41. Sussex Bancorp has a 1-year low of $16.50 and a 1-year high of $28.55.
Sussex Bancorp (NASDAQ:SBBX) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Sussex Bancorp had a return on equity of 9.43% and a net margin of 15.13%. The business had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $9.10 million. On average, equities analysts expect that Sussex Bancorp will post $1.38 earnings per share for the current fiscal year.
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In other news, Director Mark J. Hontz sold 2,100 shares of Sussex Bancorp stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $23.94, for a total transaction of $50,274.00. Following the sale, the director now owns 12,132 shares in the company, valued at $290,440.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.60% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Seidman Lawrence B increased its position in Sussex Bancorp by 16.6% in the 2nd quarter. Seidman Lawrence B now owns 296,417 shares of the financial services provider’s stock valued at $7,218,000 after acquiring an additional 42,100 shares during the period. Stieven Capital Advisors L.P. acquired a new position in Sussex Bancorp in the 2nd quarter valued at about $3,751,000. Emerald Mutual Fund Advisers Trust increased its position in Sussex Bancorp by 434.8% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 182,747 shares of the financial services provider’s stock valued at $4,450,000 after acquiring an additional 148,574 shares during the period. Banc Funds Co. LLC increased its position in Sussex Bancorp by 101.5% in the 2nd quarter. Banc Funds Co. LLC now owns 524,767 shares of the financial services provider’s stock valued at $12,778,000 after acquiring an additional 264,320 shares during the period. Finally, Wells Fargo & Company MN increased its position in Sussex Bancorp by 85.1% in the 1st quarter. Wells Fargo & Company MN now owns 50,536 shares of the financial services provider’s stock valued at $1,238,000 after acquiring an additional 23,233 shares during the period. Hedge funds and other institutional investors own 52.71% of the company’s stock.
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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