Sun Bancorp Inc. (SNBC) Reaches New 52-Week High at $22.40
Sun Bancorp Inc. (NASDAQ:SNBC) hit a new 52-week high on Thursday . The stock traded as high as $22.40 and last traded at $22.29, with a volume of 10,334 shares trading hands. The stock had previously closed at $22.00.
Separately, Zacks Investment Research cut Sun Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 15th.
The firm’s 50 day moving average is $21.27 and its 200 day moving average is $21.00. The company has a market capitalization of $420.97 million and a P/E ratio of 50.75.
Sun Bancorp (NASDAQ:SNBC) last posted its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.01. Equities analysts expect that Sun Bancorp Inc. will post $0.33 EPS for the current year.
Other large investors have bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Sun Bancorp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 455,667 shares of the financial services provider’s stock valued at $9,405,000 after buying an additional 4,667 shares in the last quarter. EJF Capital LLC raised its stake in Sun Bancorp by 1.1% in the fourth quarter. EJF Capital LLC now owns 1,027,207 shares of the financial services provider’s stock valued at $21,202,000 after buying an additional 11,108 shares in the last quarter. Finally, Boston Partners raised its stake in Sun Bancorp by 4.5% in the fourth quarter. Boston Partners now owns 136,720 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 5,850 shares in the last quarter.
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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