Brokerages Anticipate Suffolk Bancorp (SCNB) to Post $0.42 Earnings Per Share
Suffolk Bancorp (NYSE:SCNB) has received an average broker rating score of 3.00 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price target of $32.00 for the company and are expecting that the company will post $0.42 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Suffolk Bancorp an industry rank of 112 out of 265 based on the ratings given to related companies.
A number of brokerages recently weighed in on SCNB. Maxim Group cut Suffolk Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods cut 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 note on Tuesday, August 9th. FIG Partners cut Suffolk Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 28th. Finally, Zacks Investment Research raised Suffolk Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 30th.
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A number of large investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Suffolk Bancorp during the second quarter worth approximately $105,000. Citigroup Inc. acquired a new stake in shares of Suffolk Bancorp during the second quarter worth approximately $176,000. BlackRock Advisors LLC acquired a new stake in shares of Suffolk Bancorp during the second quarter worth approximately $183,000. American International Group Inc. acquired a new stake in shares of Suffolk Bancorp during the second quarter worth approximately $206,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Suffolk Bancorp during the second quarter worth approximately $287,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.
Suffolk Bancorp (NYSE:SCNB) traded down 2.49% during mid-day trading on Thursday, reaching $33.61. 2,259 shares of the company were exchanged. The company has a market cap of $399.82 million, a P/E ratio of 20.86 and a beta of 0.75. The stock’s 50-day moving average is $34.77 and its 200-day moving average is $29.49. Suffolk Bancorp has a 12 month low of $22.88 and a 12 month high of $35.80.
Suffolk Bancorp (NYSE:SCNB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ 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%. Equities analysts expect that Suffolk Bancorp will post $1.76 earnings per share for the current year.
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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