Benj Gallander Sun Bancorp (NJ) SNBC-Q DON'T BUY May 31, 2012

Was doing nicely until a few days ago. Was rocked by the fact they are going out to look for more capital again. Price is really beaten up to an attractive entry point.

This company has taken one hit after another. Has lost a lot of money over the last few years. Likes US financials but he would like to see it have more earnings. If it takes off, it could go a long way.

(A Top Pick March 16/11. Up 0.91%.) New Jersey regional bank. Originally liked because of the lack of exposure to consumer real estate but more to the hospitality industry. Turns out those loans also had nasty write-downs. Now making good progress on getting bad loans off the books. Commercial lending has improved. Well capitalized.