Schroder Investment Management Group bought a new stake in shares of Sun Bancorp, Inc. (NASDAQ:SNBC) during the first quarter, Holdings Channel reports. The firm bought 7,347 shares of the financial services provider’s stock, valued at approximately $178,000.

Several other hedge funds also recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in shares of Sun Bancorp during the first quarter valued at about $217,000. Parametric Portfolio Associates LLC raised its stake in shares of Sun Bancorp by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 8,913 shares of the financial services provider’s stock valued at $217,000 after buying an additional 312 shares during the period. Strs Ohio bought a new stake in shares of Sun Bancorp during the first quarter valued at about $219,000. First Trust Advisors LP raised its stake in shares of Sun Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 34,886 shares of the financial services provider’s stock valued at $851,000 after buying an additional 3,001 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Sun Bancorp during the fourth quarter valued at about $1,162,000. Institutional investors and hedge funds own 71.09% of the company’s stock.

Institutional Ownership by Quarter for Sun Bancorp (NASDAQ:SNBC)

Sun Bancorp, Inc. (NASDAQ SNBC) opened at 25.25 on Tuesday. The company’s 50-day moving average is $25.19 and its 200-day moving average is $25.17. Sun Bancorp, Inc. has a 52-week low of $20.32 and a 52-week high of $26.80. The firm has a market capitalization of $481.24 million, a price-to-earnings ratio of 7.75 and a beta of 0.40.

Sun Bancorp (NASDAQ:SNBC) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Sun Bancorp had a net margin of 73.81% and a return on equity of 21.16%. The business had revenue of $18.20 million for the quarter. Equities analysts predict that Sun Bancorp, Inc. will post $0.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were issued a dividend of $0.01 per share. The ex-dividend date was Friday, May 19th. This represents a $0.04 annualized dividend and a yield of 0.16%. Sun Bancorp’s dividend payout ratio (DPR) is currently 1.23%.

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Separately, Keefe, Bruyette & Woods lowered shares of Sun Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $27.50 to $28.00 in a research report on Thursday, May 4th.

About Sun Bancorp

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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