Sun Bancorp Inc : Rmb Capital Management Opened Position

February 14, 2018 - By Vivian Currie

 Sun Bancorp Inc : Rmb Capital Management Opened Position

Investors sentiment increased to 2 in Q3 2017. Its up 1.04, from 0.96 in 2017Q2. It improved, as 3 investors sold Sun Bancorp, Inc. shares while 16 reduced holdings. 15 funds opened positions while 23 raised stakes. 8.98 million shares or 1.20% less from 9.09 million shares in 2017Q2 were reported.

Deutsche Bancorp Ag invested 0% of its portfolio in Sun Bancorp, Inc. (NASDAQ:SNBC). Omers Administration invested in 51,839 shares or 0.01% of the stock. Vanguard Gru Inc invested 0% of its portfolio in Sun Bancorp, Inc. (NASDAQ:SNBC). Wells Fargo & Mn reported 0% stake. Bankshares Of Mellon stated it has 55,153 shares. Bluefin Trading Limited Liability Corporation reported 0.04% of its portfolio in Sun Bancorp, Inc. (NASDAQ:SNBC). Panagora Asset holds 32,623 shares or 0% of its portfolio. Alliancebernstein Limited Partnership reported 8,460 shares. Ejf Capital Lc reported 1.44M shares. Tocqueville Asset Mngmt Ltd Partnership has invested 0.03% of its portfolio in Sun Bancorp, Inc. (NASDAQ:SNBC). 1,030 are owned by Bnp Paribas Arbitrage. Blackrock owns 747,000 shares or 0% of their US portfolio. 2,134 are owned by Highlander Capital Management Limited Company. California-based Schwab Charles Invest Management Inc has invested 0% in Sun Bancorp, Inc. (NASDAQ:SNBC). Price T Rowe Assoc Md, a Maryland-based fund reported 9,142 shares.

The New Rmb Capital Management Holding in Sun Bancorp Inc

Rmb Capital Management reported SC 13G form with the SEC for Sun Bancorp Inc . Access it here: 000117266118000479. As reported by Rmb Capital Management, the filler owns 7.1% or 1,365,183 shares of the Finance–company.

Sun Bancorp Inc stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Rmb Capital Management’s positive view for Sun Bancorp Inc . For a hedge fund managing $3.98 billion in assets and having 75+ experts this is interesting position.

The hedge fund is investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Rmb Capital Management’s portfolio is in the sector.

Sun Bancorp Inc Institutional Sentiment

Filings show 48 investors own Sun Bancorp Inc . The ownership in Q3 2015 is low, at Infinity of the outstanding shares. This is increased by 299273. 5885376 were owned by these investors. 1 funds opened new Sun Bancorp Inc stakes, 20 increased positions. There were 6 that closed positions and 16 reduced them.

Emanuel J. Friedman Ejf Capital Llc is an investor bullish on Sun Bancorp Inc , owning 1016099 shares as of Q3 2015 for 0.95% of its portfolio. Maltese Capital Management Llc owns 501705 shares or 1.08% of its portfolio. PA Zeke Capital Advisors Llc have 0.19% of its portfolio for 15204 shares. Further, Fj Capital Management Llc reported stake worth 4.29% of its portfolio. The NY Tocqueville Asset Management Lp owns 88900 shares. Sun Bancorp Inc is 0.02% of its portfolio.

Business 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 consumers 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.

SEC Form 13G.

Rmb Capital Management website.

It closed at $24.5 lastly. It is down 17.82% since February 14, 2017 and is uptrending. It has outperformed by 1.12% the S&P500.

Sun Bancorp, Inc. operates as the bank holding firm for Sun National Bank that provides an array of community banking services to consumers, small businesses, and mid-size companies. The company has market cap of $467.87 million. The firm accepts various deposits, such as checking, savings, money market, time deposit certificate, individual retirement, and business checking accounts. It has a 7.63 P/E ratio. The Company’s loan products include term loans, lines of credit, and commercial mortgages, as well as lines of credit of overdraft sweeps.

Sun Bancorp, Inc. (NASDAQ:SNBC) Ratings Coverage

Among 2 analysts covering Sun Bancorp (NASDAQ:SNBC), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Sun Bancorp has $33.0 highest and $2700 lowest target. $30’s average target is 22.45% above currents $24.5 stock price. Sun Bancorp had 4 analyst reports since July 5, 2017 according to SRatingsIntel. On Thursday, October 26 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The firm has “Hold” rating by Sandler O’Neill given on Wednesday, July 5. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Thursday, December 21. The rating was upgraded by Sandler O’Neill on Wednesday, September 20 to “Buy”.

More notable recent Sun Bancorp, Inc. (NASDAQ:SNBC) news were published by: Globenewswire.com which released: “OceanFirst Financial Corp. Announces Final Sun Bancorp, Inc. Consideration …” on February 05, 2018, also Globenewswire.com with their article: “OceanFirst Financial Corp. Announces Agreement to Acquire Sun Bancorp, Inc.” published on June 30, 2017, Globenewswire.com published: “OceanFirst Financial Corp. and Sun Bancorp, Inc. Announce January 29, 2018 …” on January 12, 2018. More interesting news about Sun Bancorp, Inc. (NASDAQ:SNBC) were released by: Prnewswire.com and their article: “Sun Bancorp, Inc. Announces Resignation of Wilbur L. Ross, Jr. from Company …” published on March 02, 2017 as well as Prnewswire.com‘s news article titled: “Sun Bancorp, Inc. Announces Redemption of $40 Million of Trust Preferred …” with publication date: May 23, 2017.

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