State Bank Financial Corp (NASDAQ:STBZ) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,065,137 shares, a growth of 83.2% from the October 15th total of 581,399 shares. Based on an average daily trading volume, of 315,150 shares, the short-interest ratio is currently 3.4 days. Currently, 2.8% of the shares of the stock are short sold.
A number of equities analysts have commented on the stock. BidaskClub cut shares of State Bank Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Zacks Investment Research cut shares of State Bank Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. ValuEngine cut shares of State Bank Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods raised shares of State Bank Financial from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $39.50 to $37.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.83.
Shares of NASDAQ:STBZ opened at $25.72 on Friday. State Bank Financial has a 52 week low of $23.58 and a 52 week high of $35.99. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.90 and a quick ratio of 0.89.
State Bank Financial (NASDAQ:STBZ) last issued its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.11). State Bank Financial had a return on equity of 11.98% and a net margin of 19.96%. The business had revenue of $68.32 million during the quarter, compared to analysts’ expectations of $68.65 million. As a group, research analysts expect that State Bank Financial will post 2.2 EPS for the current fiscal year.
Several large investors have recently modified their holdings of STBZ. Wells Fargo & Company MN grew its stake in shares of State Bank Financial by 5.2% in the 1st quarter. Wells Fargo & Company MN now owns 70,704 shares of the financial services provider’s stock worth $2,122,000 after buying an additional 3,517 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of State Bank Financial by 28.7% during the 1st quarter. California Public Employees Retirement System now owns 10,901 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 2,433 shares during the period. Principal Financial Group Inc. purchased a new position in shares of State Bank Financial during the 1st quarter worth about $203,000. UBS Group AG boosted its stake in shares of State Bank Financial by 36.7% during the 1st quarter. UBS Group AG now owns 30,510 shares of the financial services provider’s stock worth $916,000 after purchasing an additional 8,184 shares during the period. Finally, Sphinx Trading LP purchased a new position in shares of State Bank Financial during the 2nd quarter worth about $668,000. 78.80% of the stock is owned by institutional investors and hedge funds.
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State Bank Financial Company Profile
State Bank Financial Corporation operates as the bank holding company for State Bank and Trust Company that provides various community banking services to individuals and businesses. The company's deposit products and services include checking, commercial operating, savings and money market, and individual retirement accounts, as well as short- to longer-term certificates of deposit, commercial and consumer demand deposit, and savings and time deposit products.
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