Sun Bancorp, Inc. (NASDAQ:SNBC) has received an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a 1 year consensus target price of $28.00 for the company, according to Zacks. Zacks has also assigned Sun Bancorp an industry rank of 165 out of 265 based on the ratings given to its competitors.

A number of equities analysts have weighed in on SNBC shares. Sandler O’Neill raised shares of Sun Bancorp from a “hold” rating to a “buy” rating and decreased their target price for the company from $27.00 to $26.50 in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Sun Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Shares of Sun Bancorp (NASDAQ:SNBC) traded down $0.10 during midday trading on Thursday, hitting $24.45. 81,160 shares of the company’s stock were exchanged, compared to its average volume of 43,130. Sun Bancorp has a fifty-two week low of $22.45 and a fifty-two week high of $26.70. The company has a market capitalization of $476.46, a P/E ratio of 7.72 and a beta of 0.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43.

Sun Bancorp (NASDAQ:SNBC) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. Sun Bancorp had a net margin of 72.60% and a return on equity of 19.02%. The business had revenue of $18.87 million during the quarter.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Monday, November 20th. Sun Bancorp’s dividend payout ratio (DPR) is currently 1.24%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Sun Bancorp by 10.4% during the first quarter. Vanguard Group Inc. now owns 442,920 shares of the financial services provider’s stock valued at $10,808,000 after acquiring an additional 41,758 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Sun Bancorp during the second quarter valued at approximately $930,000. Boston Partners increased its position in shares of Sun Bancorp by 13.1% during the second quarter. Boston Partners now owns 144,900 shares of the financial services provider’s stock valued at $3,572,000 after acquiring an additional 16,800 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Sun Bancorp by 26.7% during the second quarter. Teachers Advisors LLC now owns 23,692 shares of the financial services provider’s stock valued at $584,000 after acquiring an additional 4,997 shares in the last quarter. Finally, Context BH Capital Management LP bought a new stake in shares of Sun Bancorp during the third quarter valued at approximately $2,090,000. 70.31% of the stock is owned by institutional investors.

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Sun Bancorp Company 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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