According to Zacks, “Stonegate Bank, headquartered in Fort Lauderdale, Florida, provides various commercial and private banking services. It offers a range of products, including checking accounts, money market accounts, savings accounts, lines of credit, term loans, commercial mortgage loans, construction lending, commercial services, express banking, and check cards. The bank also provides credit cards, certificates of deposit, individual retirement accounts, and residential mortgages. In addition, the bank offers financial planning and asset management services for high net worth individuals and businesses, including portfolio management, estate planning, retirement plans, tax reduction strategies, asset allocation, risk management, and insurance analysis. “
Several other equities research analysts have also issued reports on the stock. Hovde Group raised their price target on shares of Stonegate Bank from $36.00 to $37.00 and gave the stock an outperform rating in a research note on Wednesday, September 21st. Keefe, Bruyette & Woods raised their price target on shares of Stonegate Bank from $36.00 to $37.00 and gave the stock a market perform rating in a research note on Thursday, September 15th.
Shares of Stonegate Bank (NASDAQ:SGBK) opened at 33.75 on Wednesday. The firm’s 50-day moving average price is $32.77 and its 200 day moving average price is $31.59. The company has a market capitalization of $434.63 million, a PE ratio of 16.08 and a beta of 0.30. Stonegate Bank has a 1-year low of $28.21 and a 1-year high of $34.00.
Stonegate Bank (NASDAQ:SGBK) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Equities analysts predict that Stonegate Bank will post $2.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. Stonegate Bank’s dividend payout ratio is 15.17%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FDx Advisors Inc. acquired a new position in Stonegate Bank during the second quarter worth $241,000. Highbridge Capital Management LLC purchased a new position in shares of Stonegate Bank during the second quarter valued at approximately $344,000. Bridgeway Capital Management Inc. purchased a new position in shares of Stonegate Bank during the second quarter valued at approximately $2,359,000. Parametric Portfolio Associates LLC increased its position in shares of Stonegate Bank by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 8,005 shares of the company’s stock valued at $258,000 after buying an additional 197 shares during the last quarter. Finally, Banc Funds Co. LLC increased its position in shares of Stonegate Bank by 1.6% in the second quarter. Banc Funds Co. LLC now owns 483,496 shares of the company’s stock valued at $15,602,000 after buying an additional 7,479 shares during the last quarter. Institutional investors and hedge funds own 53.23% of the company’s stock.
About Stonegate Bank
Stonegate Bank provides a range of business and consumer financial services. The Bank also provides a range of banking services to individual and corporate customers. The Bank provides personal banking, business banking and wealth management services. Its personal banking products include checking, money market, savings, certificates of deposit, individual retirement accounts (IRAs), consumer loans and residential mortgage loans.
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