Sussex Bancorp (SBBX) was Reiterated by Hovde Group to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $16 . Hovde Group advised their investors in a research report released on Jul 29, 2016.
Sussex Bancorp opened for trading at $15.2079 and hit $15.3999 on the upside on Thursday, eventually ending the session at $15.3999, with a gain of 3.11% or 0.4639 points. The heightened volatility saw the trading volume jump to 4,735 shares. Company has a market cap of $72 M.
In a different news, on Feb 10, 2016, Anthony J Labozzetta (CEO) purchased 1,002 shares at $12.48 per share price. According to the SEC, on Nov 4, 2015, Charles A Musilli (director) purchased 750 shares at $13.02 per share price. On Sep 9, 2015, George Lista (CEO Tri State Ins. Agency) sold 2,500 shares at $12.40 per share price, according to the Form-4 filing with the securities and exchange commission.
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. Through the Bank the Company conducts a traditional commercial banking business and offer services including personal and business checking accounts and time deposits money market accounts and savings accounts. Through the Bank’s subsidiary Tri-State it operates a full service general insurance agency offering both commercial and personal lines of insurance. The Company has two segments: banking and financial services and insurance services. The Company is engaged in a range of lending activities and offers commercial consumer mortgage home equity and personal loans. The Company’s service area primarily consists of Sussex and Bergen Counties in New Jersey Orange County and New York.