The stock of Suffolk Bancorp (NYSE:SCNB) hit a new 52-week high and has $76.84 target or 108.00% above today’s $36.94 share price. The 8 months bullish chart indicates low risk for the $439.00M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $76.84 price target is reached, the company will be worth $474.12 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 17,849 shares traded hands. Suffolk Bancorp (NYSE:SCNB) has risen 49.58% since April 5, 2016 and is uptrending. It has outperformed by 47.63% the S&P500.
According to Zacks Investment Research, “SUFFOLK BANCORP is a holding company which thru its subsidiaries is engaged in the general banking business. The Bank is a full-service bank serving the needs of the local residents of eastern Suffolk County. Approximately 90 percent of the Bank’s business is devoted to rendering services to those residing in the immediate area of the Bank’s main and branch offices.”
More notable recent Suffolk Bancorp (NYSE:SCNB) news were published by: Newsday.com which released: “People’s United to buy Suffolk Bancorp for $402 million” on June 27, 2016, also Newsday.com with their article: “Shareholders approve acquisition of Suffolk Bancorp” published on October 14, 2016, Newsday.com published: “Shareholder suit seeks to block Suffolk Bancorp deal” on August 09, 2016. More interesting news about Suffolk Bancorp (NYSE:SCNB) were released by: Marketwatch.com and their article: “Suffolk Bancorp’s stock runs up 29% to lead NYSE gainers after People’s United …” published on December 23, 2015 as well as Nasdaq.com‘s news article titled: “Suffolk Bancorp (SCNB) Ex-Dividend Date Scheduled for November 07, 2016” with publication date: November 04, 2016.
SCNB Company Profile
Suffolk Bancorp, incorporated on August 15, 1984, is the bank holding firm for Suffolk County National Bank of Riverhead (the Bank). The Bank is a community bank, which offers commercial and retail banking services to its customers. The Bank operates approximately 30 branches in Nassau, Suffolk and Queens Counties, New York and loan production offices in Garden City, Melville and Long Island City.
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