Sussex Bancorp (SBBX) Given “Buy” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their buy rating on shares of Sussex Bancorp (NASDAQ:SBBX) in a report published on Tuesday morning. They currently have a $28.50 price target on the financial services provider’s stock.

Separately, Zacks Investment Research lowered shares of Sussex Bancorp from a buy rating to a hold rating in a research report on Tuesday, June 27th.

Shares of Sussex Bancorp (NASDAQ SBBX) traded up 0.21% during trading on Tuesday, reaching $24.20. 102 shares of the company were exchanged. Sussex Bancorp has a one year low of $16.33 and a one year high of $28.55. The stock has a market capitalization of $144.01 million, a price-to-earnings ratio of 18.91 and a beta of 0.43. The company has a 50 day moving average price of $23.59 and a 200-day moving average price of $24.41.

Sussex Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Sussex Bancorp had a net margin of 15.13% and a return on equity of 9.43%. The firm had revenue of $8.71 million during the quarter, compared to analysts’ expectations of $9.10 million. Equities analysts predict that Sussex Bancorp will post $1.38 EPS for the current year.

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In other news, Director Mark J. Hontz sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $23.94, for a total transaction of $50,274.00. Following the completion of the sale, the director now owns 12,132 shares in the company, valued at $290,440.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 17.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of SBBX. Dimensional Fund Advisors LP increased its stake in shares of Sussex Bancorp by 3.1% during the second 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 period. Advisor Group Inc. lifted its holdings in Sussex Bancorp by 161.2% during the 2nd quarter. Advisor Group Inc. now owns 5,832 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 3,599 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in Sussex Bancorp during the 2nd quarter worth approximately $205,000. Wells Fargo & Company MN lifted its holdings in Sussex Bancorp by 26.5% during the 2nd quarter. Wells Fargo & Company MN now owns 63,914 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 13,378 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new stake in Sussex Bancorp during the 2nd quarter worth approximately $371,000. 52.71% of the stock is currently owned by institutional investors.

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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