Sussex Bancorp (NASDAQ:SBBX) has been assigned an average broker rating score of 2.33 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to 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 one year consensus price target of $32.88 for the company and are forecasting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also given Sussex Bancorp an industry rank of 167 out of 265 based on the ratings given to related companies.
SBBX has been the subject of a number of recent research reports. Hovde Group downgraded shares of 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. ValuEngine downgraded shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Keefe, Bruyette & Woods downgraded shares of Sussex Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Sussex Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th.
Shares of SBBX opened at $29.85 on Thursday. The firm has a market cap of $237.89, a price-to-earnings ratio of 21.02 and a beta of 0.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. Sussex Bancorp has a 1-year low of $19.75 and a 1-year high of $32.85.
Sussex Bancorp (NASDAQ:SBBX) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $9.83 million during the quarter, compared to analyst estimates of $9.80 million. Sussex Bancorp had a net margin of 12.94% and a return on equity of 8.98%. sell-side analysts expect that Sussex Bancorp will post 2.08 earnings per share for the current year.
In other news, CEO George Lista sold 2,000 shares of the business’s stock in a transaction on 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 owns 78,553 shares of the company’s stock, valued at approximately $2,286,677.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.
Several hedge funds have recently modified their holdings of SBBX. Victory Capital Management Inc. bought a new position in Sussex Bancorp in the 4th quarter worth $342,000. Wells Fargo & Company MN boosted its holdings in 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 worth $1,754,000 after buying an additional 2,732 shares during the period. Kennedy Capital Management Inc. bought a new position in Sussex Bancorp in the 4th quarter worth $1,732,000. Basswood Capital Management L.L.C. boosted its holdings in Sussex Bancorp by 3.4% in the 4th quarter. Basswood Capital Management L.L.C. now owns 594,167 shares of the financial services provider’s stock worth $15,953,000 after buying an additional 19,341 shares during the period. Finally, Millennium Management LLC bought a new position in Sussex Bancorp in the 4th quarter worth $489,000. 37.20% of the stock is owned by hedge funds and other institutional investors.
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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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