Sussex Bancorp (NASDAQ:SBBX) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Sussex Bancorp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, August 2nd. Hovde Group increased their price objective on Sussex Bancorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a buy rating, Sussex Bancorp presently has an average rating of “Buy” and an average target price of $18.00.
Sussex Bancorp (NASDAQ:SBBX) traded down 0.28% during midday trading on Friday, hitting $17.85. Sussex Bancorp has a 52 week low of $11.43 and a 52 week high of $18.00. The stock’s 50 day moving average price is $17.14 and its 200-day moving average price is $15.43. The firm has a market cap of $83.16 million, a P/E ratio of 16.82 and a beta of 0.35.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, November 7th. Sussex Bancorp’s dividend payout ratio (DPR) is currently 16.16%.
Large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake 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. Vanguard Group Inc. boosted its position in 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 during the last quarter. Finally, 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 worth $1,461,000 after buying an additional 45,778 shares during the last quarter. Institutional investors and hedge funds own 27.82% of the company’s stock.
About Sussex Bancorp