Sun Bancorp, Inc. /NJ (SNBC) Position Cut by Tocqueville Asset Management L.P.

Sun Bancorp, Inc. /NJ (SNBC) Position Cut by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. cut its stake in shares of Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,900 shares of the financial services provider’s stock after selling 3,000 shares during the period. Tocqueville Asset Management L.P. owned about 0.50% of Sun Bancorp, Inc. /NJ worth $2,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SNBC. Russell Investments Group Ltd. raised its position in Sun Bancorp, Inc. /NJ by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 146,471 shares of the financial services provider’s stock valued at $3,573,000 after buying an additional 386 shares during the last quarter. Strs Ohio purchased a new position in Sun Bancorp, Inc. /NJ during the first quarter valued at about $219,000. RMB Capital Management LLC raised its position in Sun Bancorp, Inc. /NJ 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 last quarter. Two Sigma Investments LP purchased a new position in Sun Bancorp, Inc. /NJ during the fourth quarter valued at about $1,162,000. Finally, Renaissance Technologies LLC raised its position in Sun Bancorp, Inc. /NJ 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 last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.

Shares of Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) traded up 1.00% during trading on Friday, hitting $25.15. 20,968 shares of the stock traded hands. Sun Bancorp, Inc. /NJ has a 12 month low of $20.32 and a 12 month high of $26.80. The company has a 50 day moving average price of $24.51 and a 200 day moving average price of $24.76. The firm has a market cap of $479.28 million, a price-to-earnings ratio of 7.72 and a beta of 0.75.

Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.01. Sun Bancorp, Inc. /NJ had a net margin of 74.00% and a return on equity of 23.34%. The business had revenue of $18.20 million for the quarter. Analysts anticipate that Sun Bancorp, Inc. /NJ will post $0.40 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be given a dividend of $0.01 per share. The ex-dividend date is Friday, May 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. Sun Bancorp, Inc. /NJ’s dividend payout ratio (DPR) is currently 1.24%.

Separately, Keefe, Bruyette & Woods lowered shares of Sun Bancorp, Inc. /NJ from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $27.50 to $28.00 in a report on Thursday.

In other Sun Bancorp, Inc. /NJ news, Director Keith Stock purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was bought at an average cost of $26.09 per share, with a total value of $52,180.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 33.42% of the company’s stock.

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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