Zacks Investment Research Downgrades State Bank Financial Corp. (STBZ) to Hold
State Bank Financial Corp. (NASDAQ:STBZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 research firms have also recently commented on STBZ. Stephens cut shares of State Bank Financial Corp. from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 29th. FBR & Co reiterated an “outperform” rating and set a $24.00 price target on shares of State Bank Financial Corp. in a research note on Tuesday, July 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. State Bank Financial Corp. presently has an average rating of “Hold” and a consensus target price of $22.50.
State Bank Financial Corp. (NASDAQ:STBZ) opened at 22.31 on Wednesday. The stock has a market capitalization of $799.19 million, a PE ratio of 17.86 and a beta of 0.95. State Bank Financial Corp. has a 12-month low of $17.34 and a 12-month high of $23.73. The stock’s 50 day moving average is $22.59 and its 200 day moving average is $21.25.
State Bank Financial Corp. (NASDAQ:STBZ) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. State Bank Financial Corp. had a net margin of 22.73% and a return on equity of 8.47%. Equities analysts anticipate that State Bank Financial Corp. will post $1.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, September 6th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.51%. State Bank Financial Corp.’s payout ratio is 45.16%.
Several hedge funds have recently added to or reduced their stakes in STBZ. Bank of Montreal Can purchased a new stake in State Bank Financial Corp. during the second quarter worth $14,071,000. Emerald Acquisition Ltd. purchased a new stake in State Bank Financial Corp. during the second quarter worth $13,614,000. Dimensional Fund Advisors LP raised its stake in State Bank Financial Corp. by 16.3% in the second quarter. Dimensional Fund Advisors LP now owns 763,206 shares of the financial services provider’s stock worth $15,531,000 after buying an additional 106,732 shares during the last quarter. Vanguard Group Inc. raised its stake in State Bank Financial Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 2,558,150 shares of the financial services provider’s stock worth $52,058,000 after buying an additional 97,222 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in State Bank Financial Corp. during the second quarter worth $1,658,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.
About State Bank Financial Corp.
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 a range of community banking services to individuals and businesses within its markets. Its product line includes loans to small and medium-sized businesses (SMBs), 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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