Seidman Lawrence B held its stake in Sussex Bancorp (NASDAQ:SBBX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,317 shares of the financial services provider’s stock at the end of the first quarter. Sussex Bancorp makes up 4.1% of Seidman Lawrence B’s investment portfolio, making the stock its 9th largest position. Seidman Lawrence B owned approximately 0.05% of Sussex Bancorp worth $6,231,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Sussex Bancorp during the fourth quarter worth approximately $236,000. Biondo Investment Advisors LLC raised its stake in shares of Sussex Bancorp by 1.0% in the first quarter. Biondo Investment Advisors LLC now owns 63,000 shares of the financial services provider’s stock worth $842,000 after buying an additional 645 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sussex Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 92,806 shares of the financial services provider’s stock worth $1,940,000 after buying an additional 1,730 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Sussex Bancorp by 85.1% in the first quarter. Wells Fargo & Company MN now owns 50,536 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 23,233 shares in the last quarter. Finally, Basswood Capital Management L.L.C. raised its stake in shares of Sussex Bancorp by 31.5% in the fourth quarter. Basswood Capital Management L.L.C. now owns 273,061 shares of the financial services provider’s stock worth $5,707,000 after buying an additional 65,488 shares in the last quarter. Institutional investors and hedge funds own 30.30% of the company’s stock.
Shares of Sussex Bancorp (NASDAQ:SBBX) traded up 0.20% during mid-day trading on Friday, hitting $24.90. 6,545 shares of the stock were exchanged. The firm has a market cap of $116.43 million, a price-to-earnings ratio of 19.39 and a beta of 0.40. Sussex Bancorp has a 52-week low of $13.12 and a 52-week high of $28.55. The stock has a 50-day moving average price of $25.11 and a 200 day moving average price of $21.90.
Sussex Bancorp (NASDAQ:SBBX) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Sussex Bancorp had a net margin of 14.93% and a return on equity of 9.68%. The firm had revenue of $9.23 million for the quarter, compared to the consensus estimate of $9.20 million. On average, equities research analysts expect that Sussex Bancorp will post $1.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 0.97%. This is an increase from Sussex Bancorp’s previous quarterly dividend of $0.04. Sussex Bancorp’s dividend payout ratio is 13.56%.
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Separately, Zacks Investment Research upgraded shares of Sussex Bancorp from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Thursday, May 4th.
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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