Mutual of America Capital Management LLC Reduces Position in Stonegate Bank (SGBK)
Mutual of America Capital Management LLC lessened its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,765 shares of the bank’s stock after selling 210 shares during the period. Mutual of America Capital Management LLC owned 0.25% of Stonegate Bank worth $1,790,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Stonegate Bank by 14.3% during the first quarter. Wellington Management Group LLP now owns 1,104,277 shares of the bank’s stock worth $52,001,000 after buying an additional 138,109 shares during the last quarter. Context BH Capital Management LP raised its holdings in Stonegate Bank by 501.3% during the second quarter. Context BH Capital Management LP now owns 694,684 shares of the bank’s stock worth $32,081,000 after buying an additional 579,155 shares during the last quarter. Vanguard Group Inc. raised its holdings in Stonegate Bank by 21.9% during the first quarter. Vanguard Group Inc. now owns 532,011 shares of the bank’s stock worth $25,053,000 after buying an additional 95,434 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Stonegate Bank by 30.9% during the first quarter. Renaissance Technologies LLC now owns 317,000 shares of the bank’s stock worth $14,928,000 after buying an additional 74,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Stonegate Bank by 32.3% during the first quarter. Dimensional Fund Advisors LP now owns 295,351 shares of the bank’s stock worth $13,908,000 after buying an additional 72,132 shares during the last quarter. Hedge funds and other institutional investors own 65.17% of the company’s stock.
Several research analysts have weighed in on the stock. BidaskClub downgraded shares of Stonegate Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Stonegate Bank currently has an average rating of “Hold” and a consensus target price of $49.00.
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Stonegate Bank (NASDAQ SGBK) opened at 51.62 on Thursday. The firm has a market cap of $790.77 million, a P/E ratio of 24.04 and a beta of 0.45. The firm’s 50-day moving average is $47.32 and its 200 day moving average is $46.50. Stonegate Bank has a 12-month low of $33.18 and a 12-month high of $51.77.
Stonegate Bank (NASDAQ:SGBK) last announced its earnings results on Friday, July 28th. The bank reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $29.68 million for the quarter, compared to analysts’ expectations of $32.35 million. Equities analysts forecast that Stonegate Bank will post $2.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is presently 14.75%.
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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