Insider Buying: Thomas R. Brugger Buys 4,000 Shares of Sun Bancorp Inc. (New Jersey) Stock (SNBC)
Sun Bancorp Inc. (New Jersey) (NASDAQ:SNBC) CFO Thomas R. Brugger purchased 4,000 shares of Sun Bancorp Inc. (New Jersey) stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $18.90 per share, for a total transaction of $75,600.00. Following the acquisition, the chief financial officer now directly owns 8,396 shares in the company, valued at approximately $158,684. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SNBC. 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.
Shares of Sun Bancorp Inc. (NASDAQ:SNBC) opened at 19.05 on Friday. Sun Bancorp Inc. has a 1-year low of $15.35 and a 1-year high of $22.00. The stock’s 50-day moving average is $19.50 and its 200-day moving average is $18.58. The company’s market cap is $332.3 million.
Sun Bancorp Inc. (New Jersey) (NASDAQ:SNBC) last released its earnings results on Thursday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.04. Analysts expect that Sun Bancorp Inc. will post $-1.48 EPS for the current fiscal year.
Sun Bancorp, Inc is a bank holding company. The Company’s principal subsidiary is Sun National Bank (NASDAQ:SNBC).
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