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Sun Bancorp Inc. (New Jersey) (NASDAQ:SNBC) shares are set to reverse split before the market opens on Monday, August 11th, American Banking reports. The 1-5 reverse split was announced on Thursday, July 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, August 8th.

Sun Bancorp Inc. (NASDAQ:SNBC) traded down 1.52% during mid-day trading on Friday, hitting $3.89. 67,020 shares of the company’s stock traded hands. Sun Bancorp Inc. has a 1-year low of $3.05 and a 1-year high of $4.40. The stock’s 50-day moving average is $3.96 and its 200-day moving average is $3.6. The company’s market cap is $338.7 million.

A number of analysts have recently weighed in on SNBC shares. Analysts at Sandler O’Neill upgraded shares of Sun Bancorp Inc. (New Jersey) from a “hold” rating to a “buy” rating in a research note on Monday, July 7th.

Sun Bancorp, Inc is a bank holding company. The Company’s principal subsidiary is Sun National Bank (NASDAQ:SNBC).

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