Keefe, Bruyette & Woods Raises Stonegate Bank (SGBK) Price Target to $37.00
Stonegate Bank (NASDAQ:SGBK) had its price objective hoisted by Keefe, Bruyette & Woods from $36.00 to $37.00 in a report released on Thursday. The firm currently has a market perform rating on the stock.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Stonegate Bank from a hold rating to a sell rating in a report on Friday, July 29th. Sandler O’Neill reissued a buy rating on shares of Stonegate Bank in a report on Thursday, May 26th.
Shares of Stonegate Bank (NASDAQ:SGBK) opened at 33.60 on Thursday. Stonegate Bank has a 12-month low of $28.21 and a 12-month high of $34.00. The company has a 50-day moving average price of $32.20 and a 200-day moving average price of $31.37. The firm has a market capitalization of $432.70 million, a P/E ratio of 16.01 and a beta of 0.28.
Stonegate Bank (NASDAQ:SGBK) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Equities analysts predict that Stonegate Bank will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, September 14th. Stonegate Bank’s dividend payout ratio is presently 15.17%.
A number of hedge funds have recently bought and sold shares of SGBK. Bank of New York Mellon Corp increased its stake in Stonegate Bank by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 47,177 shares of the company’s stock valued at $1,522,000 after buying an additional 935 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in Stonegate Bank by 23.0% in the second quarter. Monarch Partners Asset Management LLC now owns 15,433 shares of the company’s stock valued at $498,000 after buying an additional 2,890 shares in the last quarter. National Investment Services Inc. WI acquired a new stake in Stonegate Bank during the second quarter valued at $266,000. Fenimore Asset Management Inc. increased its stake in Stonegate Bank by 12.5% in the second quarter. Fenimore Asset Management Inc. now owns 211,900 shares of the company’s stock valued at $6,838,000 after buying an additional 23,500 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Stonegate Bank by 31.1% in the first quarter. Panagora Asset Management Inc. now owns 14,774 shares of the company’s stock valued at $443,000 after buying an additional 3,509 shares in the last quarter. 58.65% of the stock is owned by institutional investors and hedge funds.
Stonegate Bank Company Profile
Stonegate Bank provides a range of business and consumer financial services. The Bank also provides a range of banking services to individual and corporate customers. The Bank provides personal banking, business banking and wealth management services. Its personal banking products include checking, money market, savings, certificates of deposit, individual retirement accounts (IRAs), consumer loans and residential mortgage loans.
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