Shares of Sun Bancorp, Inc. (NASDAQ:SNBC) have been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Sun Bancorp’s rating score has improved by 33.3% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a 12 month consensus target price of $28.00 for the company, according to Zacks. Zacks has also assigned Sun Bancorp an industry rank of 114 out of 265 based on the ratings given to related companies.

A number of research analysts have commented on the company. BidaskClub lowered Sun Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Sandler O’Neill raised Sun Bancorp from a “hold” rating to a “buy” rating and decreased their price objective for the company from $27.00 to $26.50 in a report on Wednesday, September 20th.

Shares of Sun Bancorp (NASDAQ:SNBC) traded down $0.55 during midday trading on Thursday, reaching $25.15. The company’s stock had a trading volume of 71,273 shares, compared to its average volume of 42,798. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Sun Bancorp has a 52-week low of $22.45 and a 52-week high of $26.80. The firm has a market cap of $494.61, a price-to-earnings ratio of 8.02 and a beta of 0.24.

Sun Bancorp (NASDAQ:SNBC) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Sun Bancorp had a return on equity of 19.02% and a net margin of 72.60%. The firm had revenue of $18.87 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Monday, November 20th. Sun Bancorp’s dividend payout ratio is 1.24%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Sun Bancorp by 23.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 548,129 shares of the financial services provider’s stock worth $13,374,000 after purchasing an additional 105,284 shares in the last quarter. Context BH Capital Management LP acquired a new stake in shares of Sun Bancorp during the 3rd quarter worth $2,090,000. Magnetar Financial LLC grew its holdings in shares of Sun Bancorp by 506.8% during the 3rd quarter. Magnetar Financial LLC now owns 75,852 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 63,352 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Sun Bancorp by 421.0% during the 2nd quarter. Alliancebernstein L.P. now owns 76,380 shares of the financial services provider’s stock worth $1,883,000 after purchasing an additional 61,720 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Sun Bancorp by 33.0% during the 2nd quarter. State Street Corp now owns 206,033 shares of the financial services provider’s stock worth $5,079,000 after purchasing an additional 51,133 shares in the last quarter. 70.31% of the stock is currently owned by hedge funds and other institutional investors.

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Sun Bancorp Company Profile

Sun Bancorp, Inc is a bank holding company. The Company’s principal subsidiary is Sun National Bank (the Bank). Through the Bank, the Company provides an array of community banking services to consumers, small businesses and mid-size companies. The Company’s lending services to businesses include term loans, lines of credit and commercial mortgages.

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