Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) Lowered to Sell at BidaskClub

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, January 6th.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $33.00 price target on shares of Sun Bancorp, Inc. /NJ in a research report on Friday, December 22nd. Sandler O’Neill raised shares of Sun Bancorp, Inc. /NJ from a “hold” rating to a “buy” rating and dropped their price objective for the company from $27.00 to $26.50 in a report on Wednesday, September 20th.

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) remained flat at $$25.90 during midday trading on Friday. The company’s stock had a trading volume of 18,252 shares, compared to its average volume of 83,177. Sun Bancorp, Inc. /NJ has a 52-week low of $22.45 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $494.60, a P/E ratio of 7.99 and a beta of 0.25.

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $18.87 million during the quarter. Sun Bancorp, Inc. /NJ had a net margin of 72.60% and a return on equity of 19.02%.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in Sun Bancorp, Inc. /NJ by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 662,050 shares of the financial services provider’s stock valued at $16,319,000 after purchasing an additional 11,556 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sun Bancorp, Inc. /NJ by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 564,844 shares of the financial services provider’s stock valued at $13,924,000 after acquiring an additional 16,715 shares during the last quarter. State Street Corp grew its position in Sun Bancorp, Inc. /NJ by 33.0% during the second quarter. State Street Corp now owns 206,033 shares of the financial services provider’s stock valued at $5,079,000 after acquiring an additional 51,133 shares during the last quarter. AlphaOne Investment Services LLC grew its position in Sun Bancorp, Inc. /NJ by 16.4% during the second quarter. AlphaOne Investment Services LLC now owns 156,273 shares of the financial services provider’s stock valued at $3,852,000 after acquiring an additional 22,068 shares during the last quarter. Finally, Northern Trust Corp grew its position in Sun Bancorp, Inc. /NJ by 3.5% during the second quarter. Northern Trust Corp now owns 120,121 shares of the financial services provider’s stock valued at $2,961,000 after acquiring an additional 4,095 shares during the last quarter. 70.31% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) Lowered to Sell at BidaskClub” was reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/01/13/bidaskclub-downgrades-sun-bancorp-inc-nj-snbc-to-sell-updated.html.

Sun Bancorp, Inc. /NJ 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.

Receive News & Ratings for Sun Bancorp Inc. /NJ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Bancorp Inc. /NJ and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply