State Bank Financial (STBZ) Downgraded by Zacks Investment Research

State Bank Financial (NASDAQ:STBZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

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. “

A number of other brokerages have also recently commented on STBZ. BidaskClub cut State Bank Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. ValuEngine cut State Bank Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Gabelli cut State Bank Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Sandler O’Neill upgraded State Bank Financial from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.67.

State Bank Financial (STBZ) traded up $0.27 during mid-day trading on Friday, reaching $30.18. The company’s stock had a trading volume of 120,200 shares, compared to its average volume of 92,067. The company has a market cap of $1,166.24, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.95. State Bank Financial has a 1 year low of $24.16 and a 1 year high of $31.75.

State Bank Financial (NASDAQ:STBZ) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $54.01 million for the quarter, compared to analysts’ expectations of $56.15 million. State Bank Financial had a return on equity of 8.44% and a net margin of 22.79%. sell-side analysts predict that State Bank Financial will post 1.52 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in STBZ. Wasatch Advisors Inc. grew its position in State Bank Financial by 215.5% in the third quarter. Wasatch Advisors Inc. now owns 295,679 shares of the financial services provider’s stock valued at $8,471,000 after acquiring an additional 201,959 shares during the last quarter. AJO LP acquired a new stake in shares of State Bank Financial during the second quarter valued at about $4,290,000. Dimensional Fund Advisors LP boosted its stake in shares of State Bank Financial by 8.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,198,614 shares of the financial services provider’s stock valued at $34,340,000 after purchasing an additional 94,752 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of State Bank Financial by 3.1% during the second quarter. Vanguard Group Inc. now owns 2,942,590 shares of the financial services provider’s stock valued at $79,802,000 after purchasing an additional 87,800 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of State Bank Financial in the third quarter worth approximately $1,682,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.

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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.

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