Stonegate Bank (SGBK) Receives Average Recommendation of “Hold” from Analysts
Shares of Stonegate Bank (NASDAQ:SGBK) have been assigned an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $49.00.
SGBK has been the subject of a number of research reports. Zacks Investment Research cut shares of Stonegate Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. Finally, BidaskClub cut shares of Stonegate Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in Stonegate Bank by 14.0% during the second quarter. Legal & General Group Plc now owns 3,325 shares of the bank’s stock worth $154,000 after acquiring an additional 409 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Stonegate Bank in the first quarter valued at approximately $175,000. Trexquant Investment LP acquired a new position in shares of Stonegate Bank in the first quarter valued at approximately $219,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Stonegate Bank in the first quarter valued at approximately $220,000. Finally, Kassirer Asset Management Corp acquired a new position in shares of Stonegate Bank in the first quarter valued at approximately $235,000. Institutional investors own 65.17% of the company’s stock.
Stonegate Bank (NASDAQ:SGBK) opened at 46.11 on Thursday. Stonegate Bank has a 12 month low of $32.50 and a 12 month high of $48.53. The firm has a market cap of $706.36 million, a P/E ratio of 21.48 and a beta of 0.45. The firm has a 50 day moving average of $47.00 and a 200-day moving average of $46.46.
Stonegate Bank (NASDAQ:SGBK) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $29.68 million for the quarter, compared to analysts’ expectations of $32.35 million. On average, equities research analysts forecast that Stonegate Bank will post $2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, September 14th. Stonegate Bank’s payout ratio is currently 14.75%.
About Stonegate Bank
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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