Sussex Bancorp (NASDAQ:SBBX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “Sussex Bancorp is the holding company for the Sussex Bank, which operates through its main office in Franklin, New Jersey and branch offices in Andover, Augusta, Newton, Montague, Sparta, Vernon and Wantage, New Jersey and for Tri-State Insurance Agency, Inc, a full service insurance agency located in Augusta, New Jersey. “
Several other research firms also recently weighed in on SBBX. ValuEngine downgraded Sussex Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $32.50 target price on shares of Sussex Bancorp in a research report on Friday, December 22nd.
Sussex Bancorp (NASDAQ:SBBX) last released its earnings results on Monday, October 30th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. Sussex Bancorp had a return on equity of 9.19% and a net margin of 15.97%. The firm had revenue of $9.60 million for the quarter, compared to the consensus estimate of $9.60 million. analysts predict that Sussex Bancorp will post 1.31 EPS for the current fiscal year.
In other Sussex Bancorp news, EVP Sergio Enzo Musacchio sold 1,199 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $26.32, for a total transaction of $31,557.68. Following the completion of the sale, the executive vice president now directly owns 3,448 shares in the company, valued at $90,751.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.60% of the company’s stock.
A number of large investors have recently made changes to their positions in SBBX. Banc Funds Co. LLC increased its stake in Sussex Bancorp by 101.5% during the second quarter. Banc Funds Co. LLC now owns 524,767 shares of the financial services provider’s stock worth $12,778,000 after acquiring an additional 264,320 shares during the last quarter. Alliancebernstein L.P. increased its stake in Sussex Bancorp by 86.9% during the second quarter. Alliancebernstein L.P. now owns 145,980 shares of the financial services provider’s stock worth $3,555,000 after acquiring an additional 67,892 shares during the last quarter. Vanguard Group Inc. increased its stake in Sussex Bancorp by 73.0% during the second quarter. Vanguard Group Inc. now owns 100,717 shares of the financial services provider’s stock worth $2,493,000 after acquiring an additional 42,503 shares during the last quarter. Stifel Financial Corp acquired a new stake in Sussex Bancorp during the second quarter worth about $520,000. Finally, FNY Partners Fund LP acquired a new stake in Sussex Bancorp during the second quarter worth about $371,000. Institutional investors own 54.04% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2018/01/01/zacks-investment-research-upgrades-sussex-bancorp-sbbx-to-hold.html.
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.
Receive News & Ratings for Sussex Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sussex Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.