Insider: Why James Whitehouse Purchases 5 Shares of Suffolk Bancorp (NYSE:SCNB)?

November 28, 2016 - By Nellie Frank

Insider: Why James Whitehouse Purchases 5 Shares of Suffolk Bancorp (NYSE:SCNB)?

James Whitehouse Insider Buy

James Whitehouse, EVP of Suffolk Bancorp, in an insider buying transaction invested in 5 shares whose amount is estimated to be $198 at average stock price of $39.7. At present, he owns 7,738 shares or 0.07% of the company’s market capitalization. Dated 28/11/2016, this surprising investment by James Whitehouse was unveiled in the a legal report submitted together with the Washington-based Security and Exchange Commission. It is freely available for public review here.

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.18, from 1 in 2016Q1. The ratio is negative, as 12 funds sold all Suffolk Bancorp shares owned while 24 reduced positions. 19 funds bought stakes while 17 increased positions. They now own 6.11 million shares or 15.69% less from 7.24 million shares in 2016Q1.

Panagora Asset has 53,042 shares for 0.01% of their US portfolio. Gsa Capital Ptnrs Llp last reported 13,792 shares in the company. State Common Retirement Fund accumulated 0% or 11,600 shares. State Board Of Administration Of Florida Retirement Sys accumulated 20,590 shares or 0% of the stock. Ladenburg Thalmann Inc last reported 0% of its portfolio in the stock. Bridgeway Capital Mgmt Incorporated holds 37,000 shares or 0.02% of its portfolio. Invesco last reported 38,212 shares in the company. Moreover, Deutsche Savings Bank Ag has 0% invested in Suffolk Bancorp (NYSE:SCNB) for 47,128 shares. Beacon Trust Company last reported 48,078 shares in the company. Magnetar Financial Ltd Liability Corp has 212,734 shares for 0.12% of their US portfolio. Carlson L P reported 423,600 shares or 0.16% of all its holdings. Cornerstone Cap Hldgs Ltd Liability Com owns 100 shares or 0% of their US portfolio. Geode Mngmt Limited Com last reported 74,625 shares in the company. Blackrock Institutional Commerce Na last reported 0% of its portfolio in the stock. Tower Research Limited Company (Trc) holds 0% or 100 shares in its portfolio.

Insider Transactions: Since August 24, 2016, the stock had 14 insider purchases, and 1 insider sale for $108,072 net activity. Another trade for 17 shares valued at $674 was made by Gaviola Joseph A on Wednesday, November 23. KANDELL DAVID A bought $1,395 worth of stock. MEYER TERENCE X also bought $1,760 worth of Suffolk Bancorp (NYSE:SCNB) shares. On Wednesday, November 23 DANOWSKI JAMES E bought $1,904 worth of the stock or 48 shares. The insider Kelley Jeanne P sold $122,180. WHITEHOUSE JAMES R had bought 6 shares worth $199 on Wednesday, August 24. NIGREL ANITA J also bought $66 worth of Suffolk Bancorp (NYSE:SCNB) on Wednesday, August 24.

About 10,706 shares traded hands. Suffolk Bancorp (NYSE:SCNB) has risen 68.23% since April 25, 2016 and is uptrending. It has outperformed by 62.22% the S&P500.

Suffolk Bancorp is the bank holding firm for Suffolk County National Bank of Riverhead . The company has a market cap of $488.73 million. The Bank is a community bank, which offers commercial and retail banking services to its customers. It has a 24.78 P/E ratio. 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.

According to Zacks Investment Research, “SUFFOLK BANCORP is a holding company which thru its subsidiaries is engaged in the general banking business. The Bank is a full-service bank serving the needs of the local residents of eastern Suffolk County. Approximately 90 percent of the Bank’s business is devoted to rendering services to those residing in the immediate area of the Bank’s main and branch offices.”

Analysts await Suffolk Bancorp (NYSE:SCNB) to report earnings on January, 26. They expect $0.43 earnings per share, up 10.26% or $0.04 from last year’s $0.39 per share. SCNB’s profit will be $5.13 million for 23.82 P/E if the $0.43 EPS becomes a reality. After $0.46 actual earnings per share reported by Suffolk Bancorp for the previous quarter, Wall Street now forecasts -6.52% negative EPS growth.

More notable recent Suffolk Bancorp (NYSE:SCNB) news were published by: Newsday.com which released: “People’s United to buy Suffolk Bancorp for $402 million” on June 27, 2016, also Marketwatch.com with their article: “Suffolk Bancorp’s stock runs up 29% to lead NYSE gainers after People’s United ..” published on December 23, 2015, Newsday.com published: “Shareholder suit seeks to block Suffolk Bancorp deal” on August 09, 2016. More interesting news about Suffolk Bancorp (NYSE:SCNB) were released by: Streetinsider.com and their article: “Form 4 SUFFOLK BANCORP For: Nov 23 Filed by: HILTON CHRISTOPHER J” published on November 28, 2016 as well as Newsday.com‘s news article titled: “Shareholders approve acquisition of Suffolk Bancorp” with publication date: October 14, 2016.

SCNB Company Profile

Suffolk Bancorp, incorporated on August 15, 1984, is the bank holding firm 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 approximately 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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