Stonegate Bank (NASDAQ:SGBK) Receives Average Rating of “Hold” from Analysts
Stonegate Bank (NASDAQ:SGBK) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $49.00.
A number of research firms have recently weighed in on SGBK. BidaskClub cut shares of Stonegate Bank from a “hold” rating to a “sell” rating in a report on Wednesday. Hovde Group cut shares of Stonegate Bank from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a report on Monday, April 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $49.00 price target on shares of Stonegate Bank in a report on Wednesday, April 5th. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Finally, Zacks Investment Research cut shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th.
Hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC purchased a new stake in Stonegate Bank during the first quarter worth $175,000. Trexquant Investment LP bought a new position in shares of Stonegate Bank during the first quarter valued at approximately $219,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Stonegate Bank during the first quarter valued at approximately $220,000. Kassirer Asset Management Corp bought a new position in shares of Stonegate Bank during the first quarter valued at approximately $235,000. Finally, HighTower Advisors LLC bought a new position in shares of Stonegate Bank during the first quarter valued at approximately $292,000. Institutional investors and hedge funds own 63.65% of the company’s stock.
Stonegate Bank (SGBK) opened at 46.23 on Wednesday. The firm has a 50-day moving average of $46.03 and a 200 day moving average of $45.65. The stock has a market capitalization of $707.37 million, a PE ratio of 21.51 and a beta of 0.45. Stonegate Bank has a one year low of $30.61 and a one year high of $48.53.
Stonegate Bank (NASDAQ:SGBK) last released its quarterly earnings results on Friday, April 28th. The bank reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $27.96 million during the quarter, compared to the consensus estimate of $29.49 million. On average, equities research analysts anticipate that Stonegate Bank will post $2.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, June 14th. Stonegate Bank’s dividend payout ratio is currently 14.88%.
Stonegate Bank Company Profile
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.
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