Keefe, Bruyette & Woods Reiterates “Buy” Rating for Sun Bancorp, Inc. /NJ (SNBC)

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC)‘s stock had its “buy” rating reissued by Keefe, Bruyette & Woods in a research note issued to investors on Friday. They presently have a $33.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 33.06% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. BidaskClub cut Sun Bancorp, Inc. /NJ from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Sandler O’Neill raised Sun Bancorp, Inc. /NJ from a “hold” rating to a “buy” rating and dropped their target price for the company from $27.00 to $26.50 in a research report on Wednesday, September 20th.

Sun Bancorp, Inc. /NJ (SNBC) opened at $24.80 on Friday. Sun Bancorp, Inc. /NJ has a 52 week low of $22.45 and a 52 week high of $26.70. The stock has a market capitalization of $473.60, a P/E ratio of 7.65 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, Inc. /NJ (NASDAQ:SNBC) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $18.87 million for the quarter. Sun Bancorp, Inc. /NJ had a return on equity of 19.02% and a net margin of 72.60%.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sun Bancorp, Inc. /NJ 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 in the last quarter. Stifel Financial Corp purchased a new position in Sun Bancorp, Inc. /NJ in the 2nd quarter worth $930,000. Teachers Advisors LLC raised its stake in Sun Bancorp, Inc. /NJ by 26.7% in the 2nd quarter. Teachers Advisors LLC now owns 23,692 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 4,997 shares during the last quarter. State Street Corp raised its stake in Sun Bancorp, Inc. /NJ by 33.0% in the 2nd quarter. State Street Corp now owns 206,033 shares of the financial services provider’s stock worth $5,079,000 after acquiring an additional 51,133 shares during the last quarter. Finally, Context BH Capital Management LP purchased a new position in Sun Bancorp, Inc. /NJ in the 3rd quarter worth $2,090,000. 70.31% of the stock is owned by hedge funds and other institutional investors.

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About Sun Bancorp, Inc. /NJ

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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