Our analysis is based on comparing Sun Bancorp, Inc. (New Jersey) with the following peers – Stewardship Financial Corporation, Unity Bancorp, Inc., Parke Bancorp, Inc., Two River Bancorp, Peapack-Gladstone Financial Corporation, Bancorp of New Jersey, Inc., Valley National Bancorp, Sussex Bancorp and Lakeland Bancorp, Inc. (SSFN-US, UNTY-US, PKBK-US, TRCB-US, PGC-US, BKJ-US, VLY-US, SBBX-US and LBAI-US).
Sun Bancorp, Inc. (New Jersey)’s dividend yield is 0.20 percent and its dividend payout is 1.24 percent. This compares to a peer average dividend yield of 1.08 percent and a payout level of 16.75 percent. This relatively lagging dividend performance could spur some dividend action going forward – except the company’s current dividend quality score of 50 out of a possible score of 100 is only about average.
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2017), SNBC-US paid a low quality dividend, which represents a yield of 0.16% at the current price.
- Only one dividend was paid over the last five years — it was also of low quality.
- The ending cash balance, with a dividend coverage of 27.87x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to September 30, 2017), SNBC-US paid a low quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 21.46x), investing cash flow (coverage of -7.33x), issuance cash flow (coverage of -101.06x) and twelve-month prior cash (coverage of 42.85x), for a total dividend coverage of 28.87x.
SNBC-US’s issuance cash flow includes outflows from net debt repayment (coverage of -55.08x).
These coverage ratio factors imply that the firm had to dip into the beginning cash balance to pay the dividend, which suggests a low dividend quality.
|Dividend Yield (%)||0||0||0||0||0.08||0.2|
|Dividend Payout (%)||0||0||0||0||0.62||1.24|
A complete list of metrics and analysis is available on the company page.
Sun Bancorp, Inc. operates as a bank holding company for Sun National Bank, which provides a comprehensive array of commercial, and consumer banking services. Its lending services include term loans and lines of credit, mortgage loans, construction loans, equipment leasing, residential mortgage loans, residential construction loans, second mortgage loans, home equity loans and installment loans. Its deposit services include checking accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, cash management services such as electronic banking, sweep accounts, lockbox services, Internet banking, remote deposit, controlled and disbursement services. It also offers mutual funds, securities brokerage, annuities and investment advisory services. The company was founded on January 21, 1985 and is headquartered in Mount Laurel, NJ.
The information presented in this report has been obtained from sources deemed to be reliable, but AnalytixInsight does not make any representation about the accuracy, completeness, or timeliness of this information. This report was produced by AnalytixInsight for informational purposes only and nothing contained herein should be construed as an offer to buy or sell or as a solicitation of an offer to buy or sell any security or derivative instrument. This report is current only as of the date that it was published and the opinions, estimates, ratings and other information may change without notice or publication. Past performance is no guarantee of future results. Prior to making an investment or other financial decision, please consult with your financial, legal and tax advisors. AnalytixInsight shall not be liable for any party’s use of this report. AnalytixInsight is not a broker-dealer and does not buy, sell, maintain a position, or make a market in any security referred to herein. One of the principal tenets for us at AnalytixInsight is that the best person to handle your finances is you. By your use of our services or by reading any our reports, you’re agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that AnalytixInsight, its directors, its employees, and its agents will not be liable for any investment decision made or action taken by you and others based on news, information, opinion, or any other material generated by us and/or published through our services. For a complete copy of our disclaimer, please visit our website www.analytixinsight.com.