Sun Bancorp, Inc. /NJ (SNBC) Downgraded by BidaskClub to “Sell”

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also recently issued reports on SNBC. Sandler O’Neill raised Sun Bancorp, Inc. /NJ from a “hold” rating to a “buy” rating and decreased their target price for the company from $27.00 to $26.50 in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $33.00 price objective on shares of Sun Bancorp, Inc. /NJ in a research report on Friday, December 22nd.

Sun Bancorp, Inc. /NJ (SNBC) traded up $0.35 during trading hours on Friday, reaching $24.80. The company’s stock had a trading volume of 27,299 shares, compared to its average volume of 82,403. Sun Bancorp, Inc. /NJ has a 1 year low of $22.45 and a 1 year high of $26.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $480.38, a PE ratio of 7.65 and a beta of 0.25.

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

Several hedge funds have recently bought and sold shares of SNBC. Nationwide Fund Advisors boosted its position in shares of Sun Bancorp, Inc. /NJ by 6.6% during the second quarter. Nationwide Fund Advisors now owns 8,733 shares of the financial services provider’s stock worth $215,000 after buying an additional 543 shares during the period. Trexquant Investment LP acquired a new position in shares of Sun Bancorp, Inc. /NJ during the third quarter worth about $241,000. SG Americas Securities LLC acquired a new position in shares of Sun Bancorp, Inc. /NJ during the third quarter worth about $301,000. Wells Fargo & Company MN boosted its position in shares of Sun Bancorp, Inc. /NJ by 48.4% during the third quarter. Wells Fargo & Company MN now owns 13,528 shares of the financial services provider’s stock worth $336,000 after buying an additional 4,410 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Sun Bancorp, Inc. /NJ by 26.7% during the second quarter. Teachers Advisors LLC now owns 23,692 shares of the financial services provider’s stock worth $584,000 after buying an additional 4,997 shares during the period. 70.31% of the stock is owned by institutional investors.

WARNING: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/06/sun-bancorp-inc-nj-snbc-downgraded-by-bidaskclub-to-sell.html.

About Sun Bancorp, Inc. /NJ

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.

Receive News & Ratings for Sun Bancorp Inc. /NJ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Bancorp Inc. /NJ and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply