Los Angeles Capital Management & Equity Research Inc. Maintains Stake in Stonegate Bank (SGBK)

Los Angeles Capital Management & Equity Research Inc. held its stake in Stonegate Bank (NASDAQ:SGBK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,444 shares of the bank’s stock at the end of the first quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Stonegate Bank were worth $256,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forward Management LLC increased its stake in Stonegate Bank by 3.1% in the first quarter. Forward Management LLC now owns 10,947 shares of the bank’s stock valued at $515,000 after buying an additional 326 shares during the period. Teachers Advisors LLC increased its stake in Stonegate Bank by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 19,901 shares of the bank’s stock valued at $830,000 after buying an additional 1,278 shares during the period. Wells Fargo & Company MN increased its stake in Stonegate Bank by 4.3% in the first quarter. Wells Fargo & Company MN now owns 78,012 shares of the bank’s stock valued at $3,674,000 after buying an additional 3,200 shares during the period. Bank of New York Mellon Corp increased its stake in Stonegate Bank by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 69,790 shares of the bank’s stock valued at $3,286,000 after buying an additional 4,444 shares during the period. Finally, Trexquant Investment LP bought a new stake in Stonegate Bank during the first quarter valued at $219,000. Hedge funds and other institutional investors own 63.61% of the company’s stock.

Institutional Ownership by Quarter for Stonegate Bank (NASDAQ:SGBK)

Stonegate Bank (NASDAQ SGBK) opened at 46.21 on Tuesday. The firm has a 50 day moving average of $45.66 and a 200 day moving average of $45.00. Stonegate Bank has a 1-year low of $30.61 and a 1-year high of $48.53. The firm has a market cap of $707.06 million, a P/E ratio of 21.50 and a beta of 0.42.

Stonegate Bank (NASDAQ:SGBK) last posted its quarterly earnings results on Friday, April 28th. The bank reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $27.96 million for the quarter, compared to analysts’ expectations of $29.49 million. On average, equities research analysts expect that Stonegate Bank will post $2.42 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, June 14th. Stonegate Bank’s dividend payout ratio is currently 14.88%.

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Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $49.00 target price on shares of Stonegate Bank in a report on Wednesday, April 5th. Finally, Hovde Group downgraded shares of Stonegate Bank from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Monday, April 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.33.

About Stonegate Bank

Stonegate Bank (the Bank) is a state chartered commercial bank in the State of Florida. The Bank provides a full range of banking services to individual and corporate customers from its branch locations in Southeast and West Florida. The Bank provides personal banking, business banking and wealth management services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SGBK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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