Suffolk Bancorp (NYSE:SCNB) Receives Consensus Rating of “Hold” from Analysts
Shares of Suffolk Bancorp (NYSE:SCNB) have received an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a hold rating.
Brokers have set a one year consensus price target of $32.00 for the company and are forecasting that the company will post $0.42 EPS for the current quarter, according to Zacks. Zacks has also assigned Suffolk Bancorp an industry rank of 98 out of 265 based on the ratings given to its competitors.
SCNB has been the subject of several recent research reports. FIG Partners lowered Suffolk Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 28th. Maxim Group lowered Suffolk Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Zacks Investment Research upgraded Suffolk Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, Keefe, Bruyette & Woods lowered Suffolk Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $30.00 to $33.50 in a research report on Tuesday, August 9th.
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Several hedge funds and other institutional investors have recently made changes to their positions in SCNB. Dimensional Fund Advisors LP acquired a new position in shares of Suffolk Bancorp during the second quarter valued at about $17,709,000. Nationwide Fund Advisors acquired a new position in shares of Suffolk Bancorp during the second quarter valued at about $329,000. JPMorgan Chase & Co. acquired a new position in shares of Suffolk Bancorp during the second quarter valued at about $5,114,000. GSA Capital Partners LLP acquired a new position in shares of Suffolk Bancorp during the second quarter valued at about $432,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Suffolk Bancorp during the second quarter valued at about $645,000. Institutional investors and hedge funds own 59.25% of the company’s stock.
Shares of Suffolk Bancorp (NYSE:SCNB) traded down 0.15% on Tuesday, hitting $34.32. The stock had a trading volume of 3,729 shares. Suffolk Bancorp has a 52-week low of $22.88 and a 52-week high of $35.80. The company has a 50-day moving average of $34.24 and a 200-day moving average of $28.34. The company has a market cap of $408.27 million, a P/E ratio of 21.30 and a beta of 0.69.
Suffolk Bancorp (NYSE:SCNB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Suffolk Bancorp had a return on equity of 9.96% and a net margin of 22.55%. On average, equities analysts anticipate that Suffolk Bancorp will post $1.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. Suffolk Bancorp’s dividend payout ratio (DPR) is presently 24.69%.
Suffolk Bancorp Company Profile
Suffolk Bancorp is the bank holding company for Suffolk County National Bank of Riverhead (the Bank). The Bank is a community bank, which offers commercial and retail banking services to its customers. The Bank operates over 30 branches in Nassau, Suffolk and Queens Counties, New York and loan production offices in Garden City, Melville and Long Island City.
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