Kennedy Capital Management Inc. purchased a new position in shares of Sussex Bancorp (NASDAQ:SBBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,513 shares of the financial services provider’s stock, valued at approximately $1,732,000. Kennedy Capital Management Inc. owned approximately 0.82% of Sussex Bancorp at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of SBBX. Wells Fargo & Company MN lifted its stake 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 acquiring an additional 2,732 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sussex Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 99,943 shares of the financial services provider’s stock worth $2,474,000 after purchasing an additional 2,979 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new position in shares of Sussex Bancorp in the 3rd quarter worth about $231,000. Victory Capital Management Inc. bought a new position in shares of Sussex Bancorp in the 4th quarter worth about $342,000. Finally, Vanguard Group Inc. raised its position 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 worth $2,493,000 after acquiring an additional 42,503 shares in the last quarter. 37.20% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on SBBX. ValuEngine upgraded Sussex Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Hovde Group downgraded Sussex Bancorp from an “outperform” rating to a “market perform” rating and set a $33.00 price target for the company. in a research note on Monday, March 5th. Zacks Investment Research raised shares of 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 set a $32.50 target price on shares of Sussex Bancorp in a research report on Friday, December 22nd.
SBBX stock traded up $0.10 during midday trading on Friday, reaching $30.10. 37,885 shares of the company’s stock traded hands, compared to its average volume of 20,992. The stock has a market capitalization of $239.47, a price-to-earnings ratio of 21.20 and a beta of 0.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 1.01. Sussex Bancorp has a 52 week low of $19.75 and a 52 week high of $32.85.
Sussex Bancorp (NASDAQ:SBBX) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Sussex Bancorp had a net margin of 12.94% and a return on equity of 8.98%. The firm had revenue of $9.83 million during the quarter, compared to analyst estimates of $9.80 million. equities research analysts anticipate that Sussex Bancorp will post 1.83 EPS for the current year.
In other Sussex Bancorp news, CEO George Lista sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $29.11, for a total transaction of $58,220.00. Following the completion of the sale, the chief executive officer now directly owns 78,553 shares in the company, valued at $2,286,677.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.
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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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