Stonegate Bank (NASDAQ:SGBK) has earned an average broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Analysts have set a 12 month consensus price target of $38.50 for the company and are forecasting that the company will post $0.56 EPS for the current quarter, according to Zacks. Zacks has also given Stonegate Bank an industry rank of 110 out of 265 based on the ratings given to related companies.
SGBK has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Stonegate Bank from a “hold” rating to a “sell” rating in a report on Friday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of Stonegate Bank from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Finally, Hovde Group upped their price objective on shares of Stonegate Bank from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, September 21st.
A number of hedge funds have recently made changes to their positions in the company. Banc Funds Co. LLC increased its stake 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 worth $15,602,000 after buying an additional 7,479 shares during the period. Investment Counselors of Maryland LLC purchased a new stake in shares of Stonegate Bank during the second quarter worth about $11,137,000. Vanguard Group Inc. increased its stake in shares of Stonegate Bank by 10.0% in the second quarter. Vanguard Group Inc. now owns 337,665 shares of the company’s stock worth $10,896,000 after buying an additional 30,822 shares during the period. BlackRock Fund Advisors increased its stake in shares of Stonegate Bank by 3.9% in the second quarter. BlackRock Fund Advisors now owns 299,244 shares of the company’s stock worth $9,657,000 after buying an additional 11,307 shares during the period. Finally, Maltese Capital Management LLC increased its stake in shares of Stonegate Bank by 14.5% in the second quarter. Maltese Capital Management LLC now owns 222,433 shares of the company’s stock worth $7,178,000 after buying an additional 28,110 shares during the period. 53.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stonegate Bank (NASDAQ:SGBK) opened at 33.96 on Thursday. Stonegate Bank has a one year low of $28.21 and a one year high of $34.37. The firm has a 50-day moving average of $33.10 and a 200-day moving average of $31.72. The company has a market capitalization of $437.34 million, a P/E ratio of 16.18 and a beta of 0.30.
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, beating the Zacks’ consensus estimate of $0.52 by $0.02. Analysts forecast that Stonegate Bank will post $2.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is presently 15.17%.
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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