Suffolk Bancorp (SCNB) EVP Sells $122,340.00 in Stock
Suffolk Bancorp (NYSE:SCNB) EVP Jeanne P. Kelley sold 3,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $40.78, for a total value of $122,340.00. Following the completion of the sale, the executive vice president now owns 12,708 shares of the company’s stock, valued at $518,232.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Suffolk Bancorp (NYSE:SCNB) traded up 0.15% on Friday, hitting $41.25. The stock had a trading volume of 12,696 shares. Suffolk Bancorp has a 52 week low of $22.88 and a 52 week high of $41.80. The stock has a market capitalization of $491.33 million, a price-to-earnings ratio of 24.98 and a beta of 0.88. The company has a 50-day moving average price of $36.88 and a 200-day moving average price of $32.24.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, November 7th. Suffolk Bancorp’s dividend payout ratio (DPR) is 24.10%.
Separately, Keefe, Bruyette & Woods downgraded Suffolk Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $30.00 to $33.50 in a report on Tuesday, August 9th.
Several large investors have recently added to or reduced their stakes in SCNB. Dimensional Fund Advisors LP purchased a new stake in Suffolk Bancorp during the second quarter valued at $17,709,000. Nationwide Fund Advisors bought a new position in shares of Suffolk Bancorp during the second quarter valued at approximately $329,000. JPMorgan Chase & Co. bought a new position in shares of Suffolk Bancorp during the second quarter valued at approximately $5,114,000. GSA Capital Partners LLP bought a new position in shares of Suffolk Bancorp during the second quarter valued at approximately $432,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Suffolk Bancorp during the second quarter valued at approximately $645,000. 63.32% of the stock is currently owned by institutional investors.
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Suffolk Bancorp Company Profile
Suffolk Bancorp is the bank holding company for Suffolk County National Bank of Riverhead (the Bank). The Bank is a community bank, which offers commercial and retail banking services to its customers. The Bank operates over 30 branches in Nassau, Suffolk and Queens Counties, New York and loan production offices in Garden City, Melville and Long Island City.
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