Sun Bancorp Inc. (NASDAQ:SNBC) declared a quarterly dividend on Friday, October 28th. Investors of record on Monday, November 28th will be paid a dividend of 0.01 per share by the financial services provider on Monday, December 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Wednesday, November 23rd.

Sun Bancorp (NASDAQ:SNBC) opened at 24.10 on Friday. Sun Bancorp has a 12 month low of $19.52 and a 12 month high of $24.40. The company has a 50 day moving average price of $23.09 and a 200-day moving average price of $22.10. The company has a market cap of $455.42 million, a PE ratio of 65.85 and a beta of 0.90.

Sun Bancorp (NASDAQ:SNBC) last announced its quarterly earnings results on Monday, October 31st. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Sun Bancorp had a return on equity of 2.63% and a net margin of 8.34%. Equities analysts predict that Sun Bancorp will post $0.44 earnings per share for the current fiscal year.

Separately, TheStreet upgraded Sun Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th.

A number of hedge funds and other institutional investors have recently made changes to their positions in SNBC. Nationwide Fund Advisors increased its position in shares of Sun Bancorp by 6.3% in the second quarter. Nationwide Fund Advisors now owns 6,491 shares of the financial services provider’s stock worth $134,000 after buying an additional 383 shares during the period. Vanguard Group Inc. increased its position in shares of Sun Bancorp by 1.5% in the second quarter. Vanguard Group Inc. now owns 366,810 shares of the financial services provider’s stock worth $7,579,000 after buying an additional 5,298 shares during the period. BlackRock Advisors LLC increased its position in shares of Sun Bancorp by 1.3% in the second quarter. BlackRock Advisors LLC now owns 5,420 shares of the financial services provider’s stock worth $112,000 after buying an additional 72 shares during the period. BlackRock Investment Management LLC increased its position in shares of Sun Bancorp by 25.6% in the second quarter. BlackRock Investment Management LLC now owns 43,239 shares of the financial services provider’s stock worth $893,000 after buying an additional 8,821 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Sun Bancorp by 13.2% in the second quarter. BlackRock Fund Advisors now owns 275,973 shares of the financial services provider’s stock worth $5,702,000 after buying an additional 32,100 shares during the period. Hedge funds and other institutional investors own 68.46% of the company’s stock.

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, it provides an array of community banking services to consumers, small businesses and mid-size companies. The lending services to businesses include term loans, lines of credit and commercial mortgages.

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