Dimensional Fund Advisors LP boosted its position in Sun Bancorp, Inc. (NASDAQ:SNBC) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,844 shares of the financial services provider’s stock after purchasing an additional 16,715 shares during the quarter. Dimensional Fund Advisors LP owned about 2.96% of Sun Bancorp worth $13,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AlphaOne Investment Services LLC lifted its stake in Sun Bancorp by 16.4% in the 2nd quarter. AlphaOne Investment Services LLC now owns 156,273 shares of the financial services provider’s stock worth $3,852,000 after purchasing an additional 22,068 shares in the last quarter. Northern Trust Corp lifted its stake in Sun Bancorp by 3.5% in the 2nd quarter. Northern Trust Corp now owns 120,121 shares of the financial services provider’s stock worth $2,961,000 after purchasing an additional 4,095 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Sun Bancorp by 6.6% in the 2nd quarter. Nationwide Fund Advisors now owns 8,733 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 543 shares in the last quarter. Teachers Advisors LLC lifted its stake in Sun Bancorp by 26.7% in the 2nd quarter. Teachers Advisors LLC now owns 23,692 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 4,997 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Sun Bancorp by 421.0% in 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. Institutional investors and hedge funds own 70.03% of the company’s stock.
A number of equities analysts have recently commented on the stock. Sandler O’Neill raised shares of Sun Bancorp from a “hold” rating to a “buy” rating and decreased their price target for the stock from $27.00 to $26.50 in a report on Wednesday, September 20th. BidaskClub lowered shares of Sun Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $28.00 price target on shares of Sun Bancorp in a report on Thursday, July 27th.
Sun Bancorp, Inc. (NASDAQ SNBC) opened at $24.20 on Tuesday. The company has a market cap of $458.32, a price-to-earnings ratio of 7.43 and a beta of 0.24. Sun Bancorp, Inc. has a twelve month low of $22.10 and a twelve month high of $26.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43.
Sun Bancorp (NASDAQ:SNBC) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $18.87 million for the quarter. Sun Bancorp had a net margin of 72.60% and a return on equity of 19.02%.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Monday, November 20th. Sun Bancorp’s payout ratio is 1.24%.
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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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