Dimensional Fund Advisors LP Has $13.91 Million Position in Stonegate Bank (SGBK)
Dimensional Fund Advisors LP raised its position in shares of Stonegate Bank (NASDAQ:SGBK) by 32.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 295,351 shares of the bank’s stock after buying an additional 72,132 shares during the period. Dimensional Fund Advisors LP’s holdings in Stonegate Bank were worth $13,908,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Forward Management LLC boosted its stake in Stonegate Bank by 3.1% in the first quarter. Forward Management LLC now owns 10,947 shares of the bank’s stock worth $515,000 after buying an additional 326 shares in the last quarter. American International Group Inc. boosted its stake in Stonegate Bank by 7.5% in the first quarter. American International Group Inc. now owns 7,082 shares of the bank’s stock worth $333,000 after buying an additional 495 shares in the last quarter. Teachers Advisors LLC boosted its stake in Stonegate Bank by 2.9% in the first quarter. Teachers Advisors LLC now owns 20,488 shares of the bank’s stock worth $965,000 after buying an additional 587 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Stonegate Bank by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,822 shares of the bank’s stock worth $322,000 after buying an additional 659 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Stonegate Bank by 4.3% in the first quarter. Wells Fargo & Company MN now owns 78,012 shares of the bank’s stock worth $3,674,000 after buying an additional 3,200 shares in the last quarter. Institutional investors own 58.78% of the company’s stock.
Stonegate Bank (SGBK) traded up 0.09% during mid-day trading on Wednesday, reaching $46.87. The company’s stock had a trading volume of 3,367 shares. The stock’s 50 day moving average price is $46.47 and its 200 day moving average price is $46.30. The stock has a market capitalization of $718.00 million, a P/E ratio of 21.58 and a beta of 0.45. Stonegate Bank has a 1-year low of $31.41 and a 1-year high of $48.53.
Stonegate Bank (NASDAQ:SGBK) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $29.68 million for the quarter, compared to analysts’ expectations of $32.35 million. Analysts expect that Stonegate Bank will post $2.44 EPS for the current fiscal year.
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A number of analysts have weighed in on the company. BidaskClub cut Stonegate Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Stonegate Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, ValuEngine upgraded Stonegate Bank from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.33.
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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