The stock of Sun Bancorp, Inc. NJ (NASDAQ:SNBC) hit a new 52-week high and has $25.92 target or 6.00% above today’s $24.45 share price. The 7 months bullish chart indicates low risk for the $465.86 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $25.92 price target is reached, the company will be worth $27.95 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 24,354 shares traded hands or 16.24% up from the average. Sun Bancorp, Inc. NJ (NASDAQ:SNBC) has risen 10.53% since April 21, 2016 and is uptrending. It has outperformed by 5.20% the S&P500.
Analysts await Sun Bancorp, Inc. NJ (NASDAQ:SNBC) to report earnings on February, 6.
According to Zacks Investment Research, “Sun Bancorp, Inc. is a bank holding company with two principal subsidiaries, Sun National Bank and Sun National Bank. Through the Banks, Sun Bancorp provides community banking services. The Banks offer comprehensive lending, depository and financial services to their customers and marketplace. The Banks’ lending services to businesses include commercial and industrial loans and commercial real estate loans.”
Insitutional Activity: The institutional sentiment decreased to 1.65 in 2016 Q2. Its down 0.85, from 2.5 in 2016Q1. The ratio dived, as 3 funds sold all Sun Bancorp, Inc. NJ shares owned while 11 reduced positions. 6 funds bought stakes while 29 increased positions. They now own 6.70 million shares or 0.85% more from 6.65 million shares in 2016Q1.
Tower Research Capital Ltd Co (Trc) reported 528 shares or 0% of all its holdings. Ejf Llc holds 2.12% or 1.09M shares in its portfolio. Morgan Stanley, a New York-based fund reported 13,180 shares. American Gp has 0% invested in the company for 6,177 shares. Moreover, Renaissance Technology Limited Liability Company has 0% invested in Sun Bancorp, Inc. NJ (NASDAQ:SNBC) for 107,379 shares. Blackrock Institutional Trust Na holds 0% or 335,853 shares in its portfolio. Manufacturers Life Insurance The holds 0.02% or 571,159 shares in its portfolio. Mendon Cap Advisors Corp has invested 0.09% of its portfolio in Sun Bancorp, Inc. NJ (NASDAQ:SNBC). Blackrock has 0% invested in the company for 1,844 shares. Zacks Inv Management owns 25,377 shares or 0.02% of their US portfolio. Alphaone Inv Ltd, a Pennsylvania-based fund reported 121,300 shares. Blackrock Investment Management Limited Liability Co, a New Jersey-based fund reported 43,239 shares. Blackrock Fund Advsrs has 0% invested in the company for 275,973 shares. Vanguard Inc reported 366,810 shares or 0% of all its holdings. Susquehanna Interest Group Limited Liability Partnership has 0% invested in the company for 14,093 shares.
More notable recent Sun Bancorp, Inc. NJ (NASDAQ:SNBC) news were published by: Prnewswire.com which released: “Sun Bancorp, Inc. Elects Anthony R. Coscia as Board Chairman” on November 22, 2016, also Prnewswire.com with their article: “Sun Bancorp, Inc. Announces Board Chair Transition” published on October 28, 2016, Streetinsider.com published: “Form 8-K SUN BANCORP INC /NJ/ For: Aug 02” on August 02, 2016. More interesting news about Sun Bancorp, Inc. NJ (NASDAQ:SNBC) were released by: Streetinsider.com and their article: “Form 4 SUN BANCORP INC /NJ/ For: Nov 20 Filed by: MORRIS ANTHONY J” published on November 21, 2016 as well as Prnewswire.com‘s news article titled: “Sun Bancorp, Inc. Declares Quarterly Cash Dividend of $0.01 Per Share” with publication date: October 27, 2016.
SNBC 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. The Company’s commercial deposit services include business checking and money market accounts, and cash management solutions, such as online banking, electronic bill payment and wire transfer services, lockbox services, remote deposit and controlled disbursement services. The Company’s lending services to clients consist primarily of lines of credit of overdraft sweeps. The Company’s consumer deposit services include checking accounts, savings accounts, money market accounts, certificates of deposit and individual retirement accounts. In addition, the Company, through its subsidiary, Prosperis Financial Solutions, LLC., offers client access to mutual funds, securities brokerage, annuities and investment advisory services. It has approximately 40 locations primarily throughout New Jersey, over 30 of which are branch offices. It also has a loan production office in each of New York and Pennsylvania.
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