The stock of Suffolk Bancorp (NYSE:SCNB) hit a new 52-week high and has $44.48 target or 6.00% above today’s $41.96 share price. The 7 months bullish chart indicates low risk for the $507.98 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $44.48 price target is reached, the company will be worth $30.48M 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. The stock increased 1.01% or $0.42 during the last trading session, hitting $41.96. About 39,988 shares traded hands or 18.48% up from the average. Suffolk Bancorp (NYSE:SCNB) has risen 74.24% since April 28, 2016 and is uptrending. It has outperformed by 68.31% the S&P500.
Analysts await Suffolk Bancorp (NYSE:SCNB) to report earnings on January, 26. They expect $0.43 EPS, up 10.26% or $0.04 from last year’s $0.39 per share. SCNB’s profit will be $5.21M for 24.40 P/E if the $0.43 EPS becomes a reality. After $0.46 actual EPS reported by Suffolk Bancorp for the previous quarter, Wall Street now forecasts -6.52% negative EPS growth.
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 important 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 Marketwatch.com published article titled: “Suffolk Bancorp’s stock runs up 29% to lead NYSE gainers after People’s United …”, Newsday.com published: “Shareholder suit seeks to block Suffolk Bancorp deal” on August 09, 2016. More interesting news about Suffolk Bancorp (NYSE:SCNB) was released by: Newsday.com and their article: “Shareholders approve acquisition of Suffolk Bancorp” with publication date: October 14, 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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