Zacks: Sussex Bancorp (SBBX) Given Consensus Rating of “Strong Buy” by Analysts
Sussex Bancorp (NASDAQ:SBBX) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price objective of $29.00 for the company and are expecting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sussex Bancorp an industry rank of 118 out of 265 based on the ratings given to its competitors.
SBBX has been the subject of several analyst reports. Zacks Investment Research lowered shares of Sussex Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $28.50 price objective on shares of Sussex Bancorp in a research note on Tuesday, October 3rd.
Shares of Sussex Bancorp (SBBX) opened at $25.25 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.88. Sussex Bancorp has a 52 week low of $17.30 and a 52 week high of $28.55. The stock has a market cap of $152.82, a price-to-earnings ratio of 17.99 and a beta of 0.53.
Sussex Bancorp (NASDAQ:SBBX) last released its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. Sussex Bancorp had a net margin of 15.97% and a return on equity of 9.19%. The business had revenue of $9.60 million during the quarter, compared to analyst estimates of $9.60 million. research analysts forecast that Sussex Bancorp will post 1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 annualized dividend and a yield of 0.95%. Sussex Bancorp’s dividend payout ratio (DPR) is presently 18.18%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Sussex Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 99,943 shares of the financial services provider’s stock worth $2,474,000 after acquiring an additional 2,979 shares during the period. Advisor Group Inc. raised its holdings in Sussex Bancorp by 161.2% in the 2nd quarter. Advisor Group Inc. now owns 5,832 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 3,599 shares during the period. Hilton Capital Management LLC bought a new position in Sussex Bancorp in the 2nd quarter worth $205,000. Alpine Woods Capital Investors LLC bought a new position in Sussex Bancorp in the 3rd quarter worth $231,000. Finally, Wells Fargo & Company MN increased its holdings in shares of 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 period. Hedge funds and other institutional investors own 52.10% of the company’s stock.
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Sussex Bancorp Company Profile
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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