Vanguard Group Inc. lifted its holdings in shares of Sussex Bancorp (NASDAQ:SBBX) by 73.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,717 shares of the financial services provider’s stock after buying an additional 42,503 shares during the period. Vanguard Group Inc. owned 2.09% of Sussex Bancorp worth $2,493,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilton Capital Management LLC purchased a new stake in shares of Sussex Bancorp in the 2nd quarter valued at approximately $205,000. FNY Partners Fund LP acquired a new position in Sussex Bancorp in the 2nd quarter valued at approximately $371,000. Wells Fargo & Company MN increased its stake in shares of Sussex Bancorp by 26.5% during the 2nd quarter. Wells Fargo & Company MN now owns 63,914 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 13,378 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sussex Bancorp by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 96,964 shares of the financial services provider’s stock worth $2,376,000 after purchasing an additional 4,158 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Sussex Bancorp by 86.9% during the 2nd quarter. Alliancebernstein L.P. now owns 145,980 shares of the financial services provider’s stock worth $3,555,000 after purchasing an additional 67,892 shares during the last quarter. Hedge funds and other institutional investors own 54.04% of the company’s stock.
Sussex Bancorp (SBBX) opened at $27.90 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 cap of $168.52, a PE ratio of 19.65 and a beta of 0.54. Sussex Bancorp has a 1-year low of $18.15 and a 1-year 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 for the quarter, meeting the consensus estimate of $0.33. Sussex Bancorp had a net margin of 15.97% and a return on equity of 9.19%. The firm had revenue of $9.60 million during the quarter, compared to analysts’ expectations of $9.60 million. equities analysts predict that Sussex Bancorp will post 1.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, November 9th. Sussex Bancorp’s dividend payout ratio is 18.05%.
In related news, EVP Sergio Enzo Musacchio sold 1,199 shares of Sussex Bancorp stock in a transaction that occurred 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 transaction, the executive vice president now owns 3,448 shares of the company’s stock, valued at approximately $90,751.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.60% of the stock is owned by company insiders.
A number of research firms recently issued reports on SBBX. ValuEngine lowered shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $28.50 price target on shares of Sussex Bancorp in a report on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded shares of Sussex Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th.
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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.
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