Stonegate Bank (SGBK) PT Raised to $37.00
Stonegate Bank (NASDAQ:SGBK) had its price objective boosted by equities researchers at Hovde Group from $36.00 to $37.00 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective indicates a potential upside of 10.45% from the company’s current price.
Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Stonegate Bank from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, September 15th. Zacks Investment Research upgraded Stonegate Bank from a “sell” rating to a “hold” rating in a research report on Saturday, September 10th. Finally, Sandler O’Neill restated a “buy” rating on shares of Stonegate Bank in a research report on Thursday, May 26th.
Shares of Stonegate Bank (NASDAQ:SGBK) opened at 33.50 on Wednesday. The stock has a market capitalization of $431.41 million, a price-to-earnings ratio of 15.96 and a beta of 0.28. The stock’s 50 day moving average price is $32.25 and its 200 day moving average price is $31.40. Stonegate Bank has a 12 month low of $28.21 and a 12 month high of $34.00.
Stonegate Bank (NASDAQ:SGBK) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Analysts expect that Stonegate Bank will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is 15.17%.
A number of large investors have recently added to or reduced their stakes in SGBK. BlackRock Inc. increased its stake in Stonegate Bank by 408.4% in the second quarter. BlackRock Inc. now owns 3,452 shares of the company’s stock valued at $111,000 after buying an additional 2,773 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Stonegate Bank by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,498 shares of the company’s stock worth $146,000 after buying an additional 165 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Stonegate Bank by 47.4% in the second quarter. BlackRock Advisors LLC now owns 5,127 shares of the company’s stock worth $165,000 after buying an additional 1,649 shares during the last quarter. American International Group Inc. increased its position in shares of Stonegate Bank by 1.2% in the second quarter. American International Group Inc. now owns 6,595 shares of the company’s stock worth $213,000 after buying an additional 78 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of Stonegate Bank during the second quarter worth about $241,000. 58.65% of the stock is currently owned by institutional investors and hedge funds.
About Stonegate Bank
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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