Hsbc Holdings PLC Invests $1.53 Million in Stellarone Corp $STEL

Hsbc Holdings PLC acquired a new stake in Stellarone Corp (NYSE:STEL) during the first quarter, Holdings Channel reports. The institutional investor acquired 41,740 shares of the financial services provider’s stock, valued at approximately $1,530,000.

A number of other institutional investors have also made changes to their positions in STEL. Osaic Holdings Inc. acquired a new position in Stellarone during the second quarter worth $62,000. iSAM Funds UK Ltd bought a new stake in Stellarone during the 3rd quarter worth about $83,000. Aquatic Capital Management LLC bought a new stake in Stellarone during the 3rd quarter worth about $112,000. Janney Montgomery Scott LLC acquired a new position in shares of Stellarone during the 1st quarter worth about $202,000. Finally, Vident Advisory LLC acquired a new position in shares of Stellarone during the 2nd quarter worth about $202,000. Institutional investors own 54.15% of the company’s stock.

Stellarone Price Performance

STEL stock opened at $39.32 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 19.18 and a beta of 0.70. The business’s fifty day moving average price is $38.53 and its two-hundred day moving average price is $37.21. Stellarone Corp has a fifty-two week low of $27.88 and a fifty-two week high of $40.21.

Stellarone (NYSE:STEL) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $111.04 million during the quarter, compared to analysts’ expectations of $108.41 million. Stellarone had a net margin of 17.56% and a return on equity of 6.54%. Stellarone’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, equities analysts anticipate that Stellarone Corp will post 2.1 earnings per share for the current year.

Stellarone Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stellarone’s dividend payout ratio (DPR) is currently 29.27%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Stellarone Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.