PL Capital Advisors LLC Maintains Position in Sussex Bancorp (SBBX)
PL Capital Advisors LLC maintained its stake in Sussex Bancorp (NASDAQ:SBBX) during the second quarter, Holdings Channel reports. The fund owned 102,882 shares of the financial services provider’s stock at the end of the second quarter. Sussex Bancorp comprises about 0.7% of PL Capital Advisors LLC’s holdings, making the stock its 23rd largest position. PL Capital Advisors LLC’s holdings in Sussex Bancorp were worth $2,505,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SBBX. Renaissance Technologies LLC purchased a new stake in Sussex Bancorp during the fourth quarter valued at approximately $236,000. Biondo Investment Advisors LLC boosted its stake in shares of Sussex Bancorp by 1.0% in the first quarter. Biondo Investment Advisors LLC now owns 63,000 shares of the financial services provider’s stock valued at $842,000 after buying an additional 645 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Sussex Bancorp by 85.1% in the first quarter. Wells Fargo & Company MN now owns 50,536 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 23,233 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sussex Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 92,806 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 1,730 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of Sussex Bancorp by 434.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 182,747 shares of the financial services provider’s stock valued at $4,450,000 after buying an additional 148,574 shares in the last quarter. 29.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Sussex Bancorp (NASDAQ SBBX) opened at 23.80 on Thursday. The stock has a market capitalization of $114.60 million, a PE ratio of 18.59 and a beta of 0.43. Sussex Bancorp has a 52 week low of $15.14 and a 52 week high of $28.55. The stock’s 50 day moving average is $24.32 and its 200 day moving average is $24.20.
Sussex Bancorp (NASDAQ:SBBX) last released its earnings results on Friday, July 28th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Sussex Bancorp had a net margin of 15.13% and a return on equity of 10.68%. The company had revenue of $8.71 million during the quarter, compared to the consensus estimate of $9.10 million. Analysts anticipate that Sussex Bancorp will post $1.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be given a $0.06 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%. Sussex Bancorp’s payout ratio is 18.75%.
Several brokerages have recently issued reports on SBBX. ValuEngine raised shares of Sussex Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th.
In other Sussex Bancorp news, Director Mark J. Hontz sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $23.94, for a total value of $50,274.00. Following the completion of the sale, the director now owns 12,132 shares in the company, valued at approximately $290,440.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Labozzetta bought 6,250 shares of the business’s stock in a transaction on Friday, June 16th. The stock was bought at an average price of $24.00 per share, with a total value of $150,000.00. Following the transaction, the insider now owns 233,199 shares in the company, valued at $5,596,776. The disclosure for this purchase can be found here. 17.60% of the stock is owned by corporate insiders.
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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