Sun Bancorp, Inc. (NASDAQ:SNBC) posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by $0.01, MarketWatch Earnings reports. The firm had revenue of $17.86 million for the quarter. Sun Bancorp had a return on equity of 19.99% and a net margin of 72.03%.
Shares of Sun Bancorp (NASDAQ:SNBC) traded down 0.41% during midday trading on Monday, hitting $24.30. 24,428 shares of the stock were exchanged. Sun Bancorp has a 12-month low of $21.28 and a 12-month high of $26.80. The firm has a market cap of $463.16 million, a PE ratio of 7.67 and a beta of 0.31. The firm has a 50-day moving average price of $24.64 and a 200 day moving average price of $24.92.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 22nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Friday, August 18th. Sun Bancorp’s dividend payout ratio (DPR) is 1.26%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Sun Bancorp by 10.5% in the first quarter. Bank of America Corp DE now owns 4,533 shares of the financial services provider’s stock valued at $111,000 after buying an additional 429 shares during the last quarter. American International Group Inc. increased its position in shares of Sun Bancorp by 7.2% in the first quarter. American International Group Inc. now owns 6,615 shares of the financial services provider’s stock valued at $161,000 after buying an additional 446 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Sun Bancorp during the first quarter valued at $178,000. Trexquant Investment LP purchased a new position in shares of Sun Bancorp during the first quarter valued at $217,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Sun Bancorp by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 8,913 shares of the financial services provider’s stock valued at $217,000 after buying an additional 312 shares during the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.
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Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Sun Bancorp in a report on Thursday, July 27th. Sandler O’Neill cut shares of Sun Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Wednesday, July 5th.
Sun Bancorp Company Profile
Sun Bancorp, Inc is a bank holding company. The Company’s principal subsidiary is Sun National Bank (the Bank). Through the Bank, the Company provides an array of community banking services to consumers, small businesses and mid-size companies. The Company’s lending services to businesses include term loans, lines of credit and commercial mortgages.
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