Teachers Advisors LLC maintained its stake in Sun Bancorp, Inc. (NASDAQ:SNBC) during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,651 shares of the financial services provider’s stock at the end of the fourth quarter. Teachers Advisors LLC’s holdings in Sun Bancorp were worth $459,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Sun Bancorp during the fourth quarter valued at approximately $3,856,000. RMB Capital Management LLC boosted its stake in Sun Bancorp by 167.9% in the fourth quarter. RMB Capital Management LLC now owns 451,970 shares of the financial services provider’s stock valued at $11,751,000 after buying an additional 283,286 shares during the period. State Street Corp boosted its stake in Sun Bancorp by 13.1% in the fourth quarter. State Street Corp now owns 152,894 shares of the financial services provider’s stock valued at $3,977,000 after buying an additional 17,692 shares during the period. Two Sigma Investments LP purchased a new stake in Sun Bancorp during the fourth quarter valued at approximately $1,162,000. Finally, Renaissance Technologies LLC boosted its stake in Sun Bancorp by 91.2% in the fourth quarter. Renaissance Technologies LLC now owns 203,779 shares of the financial services provider’s stock valued at $5,298,000 after buying an additional 97,200 shares during the period. 71.09% of the stock is owned by institutional investors.
Shares of Sun Bancorp, Inc. (NASDAQ SNBC) opened at 25.35 on Friday. Sun Bancorp, Inc. has a 1-year low of $20.32 and a 1-year high of $26.80. The firm has a market capitalization of $483.15 million, a PE ratio of 7.78 and a beta of 0.40. The stock has a 50 day moving average price of $25.18 and a 200 day moving average price of $25.13.
Sun Bancorp (NASDAQ:SNBC) last issued its earnings results on Thursday, April 27th. The financial services provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The firm had revenue of $18.20 million during the quarter. Sun Bancorp had a net margin of 73.81% and a return on equity of 21.16%. Equities research analysts anticipate that Sun Bancorp, Inc. will post $0.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Sun Bancorp’s dividend payout ratio is presently 1.23%.
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Separately, Keefe, Bruyette & Woods cut Sun Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $27.50 to $28.00 in a research note on Thursday, May 4th.
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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