Zacks Investment Research cut shares of State Bank Financial (NASDAQ:STBZ) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “State Bank Financial Corporation through its subsidiary provides community banking services to individuals and businesses in the middle Georgia and metropolitan Atlanta markets. Products offered by the Company include checking accounts, commercial accounts, savings accounts, retirement accounts, time deposits and various loans. The Company also provides services including online banking and bill payment, online cash management, safe deposit box rental, debit card, and ATM card services. State Bank Financial Corporation is headquartered in Atlanta, Georgia. “
Several other analysts also recently issued reports on the company. Hovde Group reissued a hold rating on shares of State Bank Financial in a report on Tuesday, February 6th. BidaskClub raised State Bank Financial from a sell rating to a hold rating in a report on Saturday, February 3rd. Stephens reissued a hold rating and issued a $32.00 price target on shares of State Bank Financial in a report on Friday, January 26th. Gabelli raised State Bank Financial from a hold rating to a buy rating and set a $35.00 price target on the stock in a report on Friday, January 26th. Finally, SunTrust Banks reissued a buy rating and issued a $38.00 price target on shares of State Bank Financial in a report on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $34.00.
State Bank Financial (NASDAQ:STBZ) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $68.16 million for the quarter, compared to the consensus estimate of $65.00 million. State Bank Financial had a return on equity of 9.26% and a net margin of 18.77%. sell-side analysts predict that State Bank Financial will post 2.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Monday, March 5th were issued a $0.20 dividend. This is an increase from State Bank Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. State Bank Financial’s dividend payout ratio (DPR) is 54.42%.
In related news, CFO Sheila Ray purchased 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $29.50 per share, with a total value of $97,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.65% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in State Bank Financial by 3.1% during the 4th quarter. BlackRock Inc. now owns 2,121,798 shares of the financial services provider’s stock valued at $63,316,000 after acquiring an additional 63,881 shares in the last quarter. Banc Funds Co. LLC raised its stake in State Bank Financial by 1.1% during the 4th quarter. Banc Funds Co. LLC now owns 1,701,639 shares of the financial services provider’s stock valued at $50,777,000 after acquiring an additional 18,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in State Bank Financial by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,198,614 shares of the financial services provider’s stock valued at $34,340,000 after acquiring an additional 94,752 shares in the last quarter. Royce & Associates LP raised its stake in State Bank Financial by 4.1% during the 4th quarter. Royce & Associates LP now owns 882,928 shares of the financial services provider’s stock valued at $26,347,000 after acquiring an additional 34,971 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in State Bank Financial by 18.4% during the 4th quarter. Bank of Montreal Can now owns 854,640 shares of the financial services provider’s stock valued at $25,503,000 after acquiring an additional 132,693 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: “State Bank Financial (STBZ) Downgraded by Zacks Investment Research to “Hold”” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/3261527/state-bank-financial-stbz-downgraded-by-zacks-investment-research-to-hold.html.
State Bank Financial Company Profile
State Bank Financial Corporation is a bank holding company for State Bank and Trust Company (the Bank). The Bank is a Georgia-based state-chartered bank. The Company offers community banking services to individuals and businesses. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, farmland and agricultural production loans, residential mortgage loans, home equity loans, and consumer loans.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for State Bank Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Bank Financial and related companies with MarketBeat.com's FREE daily email newsletter.