Schwab Charles Investment Management Inc. increased its stake in shares of State Bank Financial Corp (NASDAQ:STBZ) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,042 shares of the financial services provider’s stock after buying an additional 14,186 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.53% of State Bank Financial worth $6,208,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its holdings in shares of State Bank Financial by 75.4% during the fourth quarter. Wasatch Advisors Inc. now owns 518,583 shares of the financial services provider’s stock worth $15,475,000 after buying an additional 222,904 shares during the last quarter. Bank of Montreal Can boosted its holdings in State Bank Financial by 18.4% in 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 purchasing an additional 132,693 shares in the last quarter. National Investment Services Inc. WI boosted its holdings in State Bank Financial by 71.0% in the 4th quarter. National Investment Services Inc. WI now owns 20,344 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 8,449 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in State Bank Financial in the 3rd quarter valued at approximately $1,008,000. Finally, Dimensional Fund Advisors LP boosted its holdings in State Bank Financial by 8.6% in 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 purchasing an additional 94,752 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Sheila Ray purchased 3,300 shares of State Bank Financial stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $29.50 per share, for a total transaction of $97,350.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.65% of the stock is currently owned by company insiders.
State Bank Financial (NASDAQ:STBZ) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. State Bank Financial had a net margin of 18.77% and a return on equity of 9.26%. The company had revenue of $68.16 million during the quarter, compared to the consensus estimate of $65.00 million. analysts predict that State Bank Financial Corp will post 2.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, March 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from State Bank Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, March 2nd. State Bank Financial’s dividend payout ratio (DPR) is presently 66.67%.
STBZ has been the topic of a number of analyst reports. BidaskClub lowered State Bank Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Hovde Group reaffirmed a “hold” rating on shares of State Bank Financial in a report on Tuesday, February 6th. Zacks Investment Research raised State Bank Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, February 1st. SunTrust Banks reaffirmed a “buy” rating and issued a $38.00 price objective on shares of State Bank Financial in a report on Tuesday, January 9th. Finally, ValuEngine lowered State Bank Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.00.
State Bank Financial 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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