Sussex Bancorp (NASDAQ:SBBX) has been given an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Sussex Bancorp’s rating score has declined by 133% from three months ago as a result of a number of analysts’ ratings changes.
Analysts have set a 1 year consensus price objective of $32.88 for the company and are anticipating that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Sussex Bancorp an industry rank of 176 out of 265 based on the ratings given to related companies.
SBBX has been the subject of a number of analyst reports. ValuEngine cut Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $32.50 price objective on shares of Sussex Bancorp in a research note on Friday, December 22nd. Zacks Investment Research upgraded Sussex Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research note on Saturday, December 30th. 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 research note on Monday, March 5th.
Sussex Bancorp (NASDAQ SBBX) traded up $0.27 on Monday, hitting $31.05. The stock had a trading volume of 190 shares, compared to its average volume of 18,065. Sussex Bancorp has a fifty-two week low of $19.75 and a fifty-two week high of $32.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.88. The company has a market cap of $247.27, a P/E ratio of 27.97 and a beta of 0.50.
Sussex Bancorp (NASDAQ:SBBX) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $9.83 million during the quarter, compared to analysts’ expectations of $9.80 million. Sussex Bancorp had a return on equity of 9.29% and a net margin of 12.94%. equities analysts forecast that Sussex Bancorp will post 1.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Tuesday, February 6th. Sussex Bancorp’s dividend payout ratio is presently 21.82%.
In other news, CEO George Lista sold 2,000 shares of the 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 transaction, the chief executive officer now directly owns 78,553 shares of the company’s stock, valued at $2,286,677.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SBBX. Vanguard Group Inc. grew its holdings in Sussex Bancorp by 73.0% during the second quarter. Vanguard Group Inc. now owns 100,717 shares of the financial services provider’s stock worth $2,493,000 after acquiring an additional 42,503 shares during the period. Victory Capital Management Inc. acquired a new stake in Sussex Bancorp during the fourth quarter worth about $342,000. Basswood Capital Management L.L.C. grew its holdings in Sussex Bancorp by 3.4% during the fourth 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. Alpine Woods Capital Investors LLC acquired a new stake in Sussex Bancorp during the third quarter worth about $231,000. Finally, Dimensional Fund Advisors LP grew its holdings in Sussex Bancorp by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 99,943 shares of the financial services provider’s stock worth $2,474,000 after acquiring an additional 2,979 shares during the period. 37.30% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This report was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/03/15/zacks-brokerages-set-32-88-target-price-for-sussex-bancorp-sbbx.html.
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.
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.