Insider Buying: Thomas R. Brugger Acquires 4,000 Shares of Sun Bancorp Inc. (New Jersey) Stock (SNBC)
Sun Bancorp Inc. (New Jersey) (NASDAQ:SNBC) CFO Thomas R. Brugger acquired 4,000 shares of Sun Bancorp Inc. (New Jersey) stock on the open market in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $18.90 per share, with a total value of $75,600.00. Following the transaction, the chief financial officer now directly owns 8,396 shares of the company’s stock, valued at approximately $158,684. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Sun Bancorp Inc. (NASDAQ:SNBC) traded up 0.79% during mid-day trading on Wednesday, hitting $19.13. The stock had a trading volume of 18,649 shares. Sun Bancorp Inc. has a 52-week low of $15.35 and a 52-week high of $22.00. The stock has a 50-day moving average of $19.58 and a 200-day moving average of $18.58. The company’s market cap is $333.7 million.
Sun Bancorp Inc. (New Jersey) (NASDAQ:SNBC) last announced its earnings results on Thursday, July 31st. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.04. On average, analysts predict that Sun Bancorp Inc. will post $-1.48 earnings per share for the current fiscal year.
SNBC has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Sun Bancorp Inc. (New Jersey) in a research note on Friday, August 15th. They now have a $24.00 price target on the stock, down previously from $25.00. Finally, 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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