Stonegate Bank (SGBK) Price Target Raised to $37.00 at Hovde Group
Stonegate Bank (NASDAQ:SGBK) had its price target boosted by equities researchers at Hovde Group from $36.00 to $37.00 in a research report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Hovde Group’s price objective indicates a potential upside of 10.45% from the company’s previous close.
A number of other equities research analysts have also issued reports on SGBK. Zacks Investment Research upgraded Stonegate Bank from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. Keefe, Bruyette & Woods increased their price target on Stonegate Bank from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, September 15th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Stonegate Bank in a research note on Thursday, May 26th.
Shares of Stonegate Bank (NASDAQ:SGBK) opened at 33.50 on Wednesday. Stonegate Bank has a 1-year low of $28.21 and a 1-year high of $34.00. The company has a market cap of $431.41 million, a price-to-earnings ratio of 15.96 and a beta of 0.28. The stock has a 50 day moving average price of $32.25 and a 200-day moving average price of $31.40.
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Stonegate Bank (NASDAQ:SGBK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Equities research analysts forecast that Stonegate Bank will post $2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. Stonegate Bank’s payout ratio is 15.17%.
Several hedge funds and other institutional investors have recently modified their holdings of SGBK. Emerald Mutual Fund Advisers Trust raised its position in shares of Stonegate Bank by 44.9% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 129,815 shares of the company’s stock worth $4,266,000 after buying an additional 40,248 shares during the last quarter. Fenimore Asset Management raised its position in shares of Stonegate Bank by 13.9% in the fourth quarter. Fenimore Asset Management now owns 163,400 shares of the company’s stock worth $5,369,000 after buying an additional 20,000 shares during the last quarter. State Street Corp raised its position in shares of Stonegate Bank by 7.5% in the first quarter. State Street Corp now owns 151,087 shares of the company’s stock worth $4,529,000 after buying an additional 10,542 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Stonegate Bank by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 124,127 shares of the company’s stock worth $3,719,000 after buying an additional 1,630 shares during the last quarter. Finally, RMB Capital Management LLC raised its position in shares of Stonegate Bank by 49.4% in the first quarter. RMB Capital Management LLC now owns 148,932 shares of the company’s stock worth $4,462,000 after buying an additional 49,260 shares during the last quarter. Hedge funds and other institutional investors own 58.65% of the company’s stock.
Stonegate Bank Company Profile
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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