State Board of Administration of Florida Retirement System held its position in Suffolk Bancorp (NYSE:SCNB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,770 shares of the company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in Suffolk Bancorp were worth $889,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in Suffolk Bancorp by 23.7% in the third quarter. Wells Fargo & Company MN now owns 4,685 shares of the company’s stock worth $163,000 after buying an additional 899 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Suffolk Bancorp during the fourth quarter worth $167,000. Alps Advisors Inc. acquired a new position in Suffolk Bancorp during the third quarter worth $412,000. OMERS ADMINISTRATION Corp raised its position in Suffolk Bancorp by 64.8% in the third quarter. OMERS ADMINISTRATION Corp now owns 37,400 shares of the company’s stock worth $1,300,000 after buying an additional 14,700 shares in the last quarter. Finally, Context BH Capital Management LP acquired a new position in Suffolk Bancorp during the third quarter worth $2,123,000. Institutional investors and hedge funds own 58.84% of the company’s stock.
Suffolk Bancorp (NYSE:SCNB) opened at 40.04 on Monday. Suffolk Bancorp has a 52-week low of $22.88 and a 52-week high of $44.70. The stock has a market capitalization of $477.92 million, a price-to-earnings ratio of 24.12 and a beta of 0.89. The stock’s 50 day moving average is $41.87 and its 200-day moving average is $39.67.
Separately, Keefe, Bruyette & Woods set a $43.00 price objective on shares of Suffolk Bancorp and gave the company a “hold” rating in a research note on Saturday, March 18th.
In other news, Director John D. Stark, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $42.58, for a total value of $170,320.00. Following the transaction, the director now owns 35,495 shares in the company, valued at $1,511,377.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph A. Gaviola sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $41.52, for a total transaction of $145,320.00. Following the completion of the transaction, the director now owns 5,854 shares in the company, valued at approximately $243,058.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,501 shares of company stock worth $826,323. Insiders own 4.61% of the company’s stock.
Suffolk Bancorp Company Profile
Suffolk Bancorp is the bank holding company for Suffolk County National Bank of Riverhead (the Bank). The Bank is a community bank, which offers commercial and retail banking services to its customers. The Bank operates over 30 branches in Nassau, Suffolk and Queens Counties, New York and loan production offices in Garden City, Melville and Long Island City.
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