Sun Bancorp, Inc. (New Jersey) : SNBC-US: Dividend Analysis : November 21st, 2017 (record date) : By the numbers : November 22, 2017

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 Yield
Dividend Quality Score

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.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

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).

Dividend Coverage by Cash Flow (TTM)

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 History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
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.

Company Profile

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.


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