NEW YORK (TheStreet) -- Shares of Sun Bancorp Inc. (SNBC) are lower by -2.44% to $3.81 in late afternoon trading on Thursday after the company reported a net loss of -$24.2 million, or -28 cents per share for the 2014 second quarter.
Analysts polled by Thomson Reuters had expected the holding company for Sun National Bank to report a loss of -24 cents per share for the quarter.
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TheStreet Ratings team rates SUN BANCORP INC/NJ as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUN BANCORP INC/NJ (SNBC) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share."