Forward Management LLC increased its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 5.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,554 shares of the bank’s stock after buying an additional 607 shares during the period. Forward Management LLC’s holdings in Stonegate Bank were worth $534,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. First Bank & Trust boosted its stake in shares of Stonegate Bank by 5.0% in the second quarter. First Bank & Trust now owns 5,152 shares of the bank’s stock valued at $238,000 after buying an additional 243 shares during the last quarter. American International Group Inc. boosted its stake in shares of Stonegate Bank by 7.5% in the first quarter. American International Group Inc. now owns 7,082 shares of the bank’s stock valued at $333,000 after buying an additional 495 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Stonegate Bank by 2.9% in the first quarter. Teachers Advisors LLC now owns 20,488 shares of the bank’s stock valued at $965,000 after buying an additional 587 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Stonegate Bank by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,822 shares of the bank’s stock valued at $322,000 after buying an additional 659 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in shares of Stonegate Bank by 18.4% in the first quarter. Credit Suisse AG now owns 10,292 shares of the bank’s stock valued at $485,000 after buying an additional 1,597 shares during the last quarter. 57.01% of the stock is owned by institutional investors.

Shares of Stonegate Bank (SGBK) opened at 46.56 on Friday. Stonegate Bank has a 12 month low of $31.35 and a 12 month high of $48.53. The company has a market cap of $708.60 million, a price-to-earnings ratio of 21.44 and a beta of 0.45. The company’s 50 day moving average price is $46.41 and its 200 day moving average price is $46.19.

Stonegate Bank (NASDAQ:SGBK) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $29.68 million during the quarter, compared to the consensus estimate of $32.35 million. On average, equities analysts expect that Stonegate Bank will post $2.44 EPS for the current fiscal year.

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Several brokerages have recently weighed in on SGBK. BidaskClub cut Stonegate Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Stonegate Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, ValuEngine raised Stonegate Bank from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.33.

Stonegate Bank Company Profile

Stonegate Bank (the Bank) is a state chartered commercial bank in the State of Florida. The Bank provides a full range of banking services to individual and corporate customers from its branch locations in Southeast and West Florida. The Bank provides personal banking, business banking and wealth management services.

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Institutional Ownership by Quarter for Stonegate Bank (NASDAQ:SGBK)

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