Sun Bancorp, Inc. (NASDAQ:SNBC) Releases Earnings Results, Beats Estimates By $0.03 EPS

Sun Bancorp, Inc. (NASDAQ:SNBC) issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03, Bloomberg Earnings reports. Sun Bancorp had a return on equity of 19.11% and a net margin of 72.60%. The business had revenue of $18.87 million for the quarter.

Shares of Sun Bancorp (NASDAQ:SNBC) opened at $24.00 on Friday. Sun Bancorp has a fifty-two week low of $22.10 and a fifty-two week high of $26.80. The stock has a market capitalization of $458.33, a PE ratio of 7.43 and a beta of 0.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.52.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date is Monday, November 20th. Sun Bancorp’s payout ratio is 1.24%.

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SNBC has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $28.00 price target on shares of Sun Bancorp in a research note on Thursday, July 27th. BidaskClub lowered Sun Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Sandler O’Neill raised Sun Bancorp from a “hold” rating to a “buy” rating and cut their target price for the company from $27.00 to $26.50 in a research note on Wednesday, September 20th.

About Sun Bancorp

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.

Earnings History for Sun Bancorp (NASDAQ:SNBC)

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