Parametric Portfolio Associates LLC raised its position in Sun Bancorp, Inc. (NASDAQ:SNBC) by 3.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,913 shares of the financial services provider’s stock after buying an additional 312 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sun Bancorp were worth $217,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SNBC. Bank of New York Mellon Corp boosted its position in shares of Sun Bancorp by 12.4% in the first quarter. Bank of New York Mellon Corp now owns 56,948 shares of the financial services provider’s stock worth $1,390,000 after buying an additional 6,274 shares in the last quarter. First Trust Advisors LP boosted its position 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 worth $851,000 after buying an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Sun Bancorp by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 146,471 shares of the financial services provider’s stock worth $3,573,000 after buying an additional 386 shares in the last quarter. Strs Ohio acquired a new position in shares of Sun Bancorp during the first quarter worth about $219,000. Finally, State Street Corp boosted its position in shares of Sun Bancorp by 13.1% in the fourth quarter. State Street Corp now owns 152,894 shares of the financial services provider’s stock worth $3,977,000 after buying an additional 17,692 shares in the last quarter. 71.00% of the stock is currently owned by hedge funds and other institutional investors.
Sun Bancorp, Inc. (NASDAQ:SNBC) opened at 22.80 on Friday. The company’s 50 day moving average is $24.29 and its 200-day moving average is $24.80. Sun Bancorp, Inc. has a 1-year low of $22.10 and a 1-year high of $26.80. The firm has a market cap of $435.27 million, a price-to-earnings ratio of 7.19 and a beta of 0.31.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.01 per share. The ex-dividend date is Friday, August 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. Sun Bancorp’s payout ratio is 1.26%.
COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/08/19/sun-bancorp-inc-nasdaqsnbc-shares-bought-by-parametric-portfolio-associates-llc-updated.html.
SNBC has been the topic of several analyst reports. BidaskClub lowered shares of Sun Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $28.00 price target on shares of Sun Bancorp in a research note on Thursday, July 27th. Finally, Sandler O’Neill lowered shares of Sun Bancorp from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Wednesday, July 5th.
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.
What are top analysts saying about Sun Bancorp Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sun Bancorp Inc. and related companies.