Rhumbline Advisers lessened its stake in Sun Bancorp, Inc. (NASDAQ:SNBC) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,246 shares of the financial services provider’s stock after selling 997 shares during the period. Rhumbline Advisers owned approximately 0.06% of Sun Bancorp worth $302,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Sun Bancorp by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 442,920 shares of the financial services provider’s stock worth $10,808,000 after purchasing an additional 41,758 shares during the period. Schroder Investment Management Group bought a new stake in Sun Bancorp in the 1st quarter worth approximately $178,000. EJF Capital LLC grew its position in Sun Bancorp by 36.6% in the 1st quarter. EJF Capital LLC now owns 1,493,820 shares of the financial services provider’s stock worth $36,449,000 after purchasing an additional 400,000 shares during the period. Boston Partners grew its position in Sun Bancorp by 13.1% in the 2nd quarter. Boston Partners now owns 144,900 shares of the financial services provider’s stock worth $3,572,000 after purchasing an additional 16,800 shares during the period. Finally, Mendon Capital Advisors Corp grew its position in Sun Bancorp by 128.6% in the 1st quarter. Mendon Capital Advisors Corp now owns 96,788 shares of the financial services provider’s stock worth $2,362,000 after purchasing an additional 54,450 shares during the period. 70.66% of the stock is owned by institutional investors and hedge funds.

SNBC has been the subject of a number of research analyst reports. Sandler O’Neill downgraded shares of Sun Bancorp from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Wednesday, July 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $28.00 target price on shares of Sun Bancorp in a research report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Sun Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

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Shares of Sun Bancorp, Inc. (SNBC) opened at 25.50 on Wednesday. The firm has a 50-day moving average of $23.81 and a 200-day moving average of $24.44. The company has a market cap of $486.82 million, a P/E ratio of 8.04 and a beta of 0.29. Sun Bancorp, Inc. has a 52-week low of $22.10 and a 52-week high of $26.80.

Sun Bancorp (NASDAQ:SNBC) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). Sun Bancorp had a net margin of 72.03% and a return on equity of 19.63%. The company had revenue of $17.86 million for the quarter. Equities research analysts forecast that Sun Bancorp, Inc. will post $0.41 earnings per share for the current year.

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

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