USA Financial Portformulas Corp Takes $381,000 Position in Stonegate Bank (SGBK)
USA Financial Portformulas Corp purchased a new position in shares of Stonegate Bank (NASDAQ:SGBK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,253 shares of the bank’s stock, valued at approximately $381,000. USA Financial Portformulas Corp owned 0.05% of Stonegate Bank at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of SGBK. Alps Advisors Inc. lifted its holdings in Stonegate Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,053 shares of the bank’s stock valued at $464,000 after acquiring an additional 26 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Stonegate Bank by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 5,389 shares of the bank’s stock valued at $249,000 after acquiring an additional 198 shares during the period. First Bank & Trust lifted its holdings in 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 acquiring an additional 243 shares during the period. Citigroup Inc. lifted its holdings in Stonegate Bank by 4.5% in the second quarter. Citigroup Inc. now owns 8,222 shares of the bank’s stock valued at $380,000 after acquiring an additional 351 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Stonegate Bank by 14.0% in the second quarter. Legal & General Group Plc now owns 3,325 shares of the bank’s stock valued at $154,000 after acquiring an additional 409 shares during the period. 65.17% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded Stonegate Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $49.00.
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Shares of Stonegate Bank (NASDAQ:SGBK) traded up 1.16% on Friday, hitting $51.62. The stock had a trading volume of 789,157 shares. The firm has a market cap of $790.77 million, a P/E ratio of 24.04 and a beta of 0.45. Stonegate Bank has a 12-month low of $33.18 and a 12-month high of $51.77. The company’s 50-day moving average price is $47.32 and its 200 day moving average price is $46.50.
Stonegate Bank (NASDAQ:SGBK) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $29.68 million during the quarter, compared to analyst estimates of $32.35 million. Stonegate Bank had a net margin of 28.04% and a return on equity of 8.07%. On average, equities research analysts forecast that Stonegate Bank will post $2.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.62%. Stonegate Bank’s dividend payout ratio (DPR) is 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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