Sussex Bancorp (NASDAQ:SBBX) has been assigned an average broker rating score of 1.33 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company.
Brokerages have set a 1-year consensus target price of $16.38 for the company and are expecting that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also given Sussex Bancorp an industry rank of 155 out of 265 based on the ratings given to related companies.
Several analysts have recently issued reports on SBBX shares. Zacks Investment Research raised shares of Sussex Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, August 2nd. Hovde Group boosted their price objective on shares of Sussex Bancorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Finally, TheStreet cut shares of Sussex Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sussex Bancorp by 127.2% in the second quarter. Vanguard Group Inc. now owns 23,555 shares of the financial services provider’s stock worth $315,000 after buying an additional 13,187 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in Sussex Bancorp by 72.0% in the second quarter. Basswood Capital Management L.L.C. now owns 109,386 shares of the financial services provider’s stock valued at $1,461,000 after buying an additional 45,778 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Sussex Bancorp by 1.5% in the second quarter. Alliancebernstein L.P. now owns 139,460 shares of the financial services provider’s stock valued at $1,863,000 after buying an additional 2,000 shares during the period. Institutional investors own 27.82% of the company’s stock.
Shares of Sussex Bancorp (NASDAQ:SBBX) opened at 17.175 on Thursday. Sussex Bancorp has a 1-year low of $11.43 and a 1-year high of $17.40. The firm has a 50-day moving average price of $16.28 and a 200-day moving average price of $14.46. The firm has a market capitalization of $78.94 million, a PE ratio of 17.348 and a beta of 0.35.
Sussex Bancorp (NASDAQ:SBBX) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Sussex Bancorp had a return on equity of 8.28% and a net margin of 13.65%. On average, analysts forecast that Sussex Bancorp will post $1.08 EPS for the current fiscal year.
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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