Sussex Bancorp (SBBX) Earns Buy Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their buy rating on shares of Sussex Bancorp (NASDAQ:SBBX) in a report issued on Friday. The firm currently has a $32.50 price objective on the financial services provider’s stock.
Several other brokerages also recently commented on SBBX. ValuEngine downgraded shares of Sussex Bancorp from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of Sussex Bancorp from a hold rating to a sell rating in a research report on Tuesday, November 7th.
Shares of Sussex Bancorp (NASDAQ:SBBX) opened at $26.65 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $162.80, a P/E ratio of 20.19 and a beta of 0.51. Sussex Bancorp has a 12-month low of $18.95 and a 12-month high of $28.55.
Sussex Bancorp (NASDAQ:SBBX) last issued its quarterly earnings results on Monday, October 30th. The financial services provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $9.60 million during the quarter, compared to the consensus estimate of $9.60 million. Sussex Bancorp had a net margin of 15.97% and a return on equity of 9.19%. research analysts forecast that Sussex Bancorp will post 1.31 earnings per share for the current year.
In other Sussex Bancorp news, EVP Sergio Enzo Musacchio sold 1,199 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $26.32, for a total value of $31,557.68. Following the completion of the sale, the executive vice president now owns 3,448 shares in the company, valued at approximately $90,751.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.60% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Seidman Lawrence B raised its holdings in shares of Sussex Bancorp by 16.6% during the 2nd quarter. Seidman Lawrence B now owns 296,417 shares of the financial services provider’s stock valued at $7,218,000 after purchasing an additional 42,100 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Sussex Bancorp during the 2nd quarter valued at $520,000. Vanguard Group Inc. grew its stake in Sussex Bancorp by 73.0% in the 2nd quarter. Vanguard Group Inc. now owns 100,717 shares of the financial services provider’s stock valued at $2,493,000 after buying an additional 42,503 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new position in Sussex Bancorp in the 2nd quarter valued at $3,751,000. Finally, Wells Fargo & Company MN grew its stake in Sussex Bancorp by 26.5% in the 2nd quarter. Wells Fargo & Company MN now owns 63,914 shares of the financial services provider’s stock valued at $1,556,000 after buying an additional 13,378 shares during the last quarter. Institutional investors own 54.04% of the company’s stock.
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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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