Sussex Bancorp (NASDAQ:SBBX) has earned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. Sussex Bancorp’s rating score has declined by 133% from three months ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price objective of $32.88 for the company and are expecting 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 173 out of 265 based on the ratings given to related companies.
A number of research firms have recently weighed in on SBBX. ValuEngine raised Sussex Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. 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 report on Monday, March 5th. Zacks Investment Research raised Sussex Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $32.50 price objective on shares of Sussex Bancorp in a research report on Friday, December 22nd.
In other news, CEO George Lista sold 2,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 78,553 shares of the company’s stock, valued at approximately $2,286,677.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SBBX. Hilton Capital Management LLC acquired a new stake in Sussex Bancorp during the 4th quarter worth about $226,000. Victory Capital Management Inc. acquired a new stake in Sussex Bancorp during the 4th quarter worth about $342,000. Millennium Management LLC acquired a new stake in Sussex Bancorp during the 4th quarter worth about $489,000. Kennedy Capital Management Inc. acquired a new stake in Sussex Bancorp during the 4th quarter worth about $1,732,000. Finally, Wells Fargo & Company MN lifted its position in Sussex Bancorp by 4.4% during the 4th quarter. Wells Fargo & Company MN now owns 65,347 shares of the financial services provider’s stock worth $1,754,000 after acquiring an additional 2,732 shares during the period. 37.20% of the stock is owned by institutional investors.
Shares of NASDAQ:SBBX opened at $30.10 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $239.47, a PE ratio of 21.20 and a beta of 0.44. Sussex Bancorp has a 12-month low of $19.75 and a 12-month high of $32.85.
Sussex Bancorp (NASDAQ:SBBX) last posted its quarterly earnings data 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. 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 8.98% and a net margin of 12.94%. equities research analysts forecast that Sussex Bancorp will post 1.83 EPS for the current year.
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About Sussex Bancorp
Sussex Bancorp operates as a bank holding company for Sussex Bank that provides commercial banking and related financial services to individual, business, and government customers. It operates through two segments, Banking and Financial Services; and Insurance Services. The company's deposit products include personal and business checking accounts, time deposits, money market accounts, savings accounts, NOW accounts, and demand deposits.
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