Carlton Hofferkamp & Jenks Wealth Management LLC Sells 73,072 Shares of Stellarone Corp $STEL

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its position in Stellarone Corp (NYSE:STEL) by 60.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 48,384 shares of the financial services provider’s stock after selling 73,072 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Stellarone were worth $1,817,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Strs Ohio increased its position in shares of Stellarone by 1.3% during the first quarter. Strs Ohio now owns 22,600 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 300 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Stellarone during the 1st quarter valued at $202,000. Beaumont Asset Management L.L.C. acquired a new stake in shares of Stellarone in the 1st quarter worth $1,677,000. Louisiana State Employees Retirement System acquired a new stake in shares of Stellarone in the 1st quarter worth $743,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in Stellarone by 0.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 203,687 shares of the financial services provider’s stock worth $6,302,000 after buying an additional 847 shares during the last quarter. 54.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Stellarone Price Performance

STEL stock opened at $39.32 on Monday. The firm has a 50 day moving average of $37.86 and a 200 day moving average of $36.32. The stock has a market capitalization of $2.00 billion, a PE ratio of 19.18 and a beta of 0.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.02. Stellarone Corp has a 52 week low of $27.88 and a 52 week high of $40.21.

Stellarone (NYSE:STEL) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $111.04 million for the quarter, compared to analyst estimates of $108.41 million. Stellarone had a net margin of 17.56% and a return on equity of 6.54%. Stellarone’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Sell-side analysts forecast that Stellarone Corp will post 2.1 earnings per share for the current year.

Stellarone Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Stellarone’s payout ratio is 29.27%.

Stellarone Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.