Dimensional Fund Advisors LP Raises Holdings in State Bank Financial Corp (STBZ)
Dimensional Fund Advisors LP boosted its position in shares of State Bank Financial Corp (NASDAQ:STBZ) by 7.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,503,083 shares of the financial services provider’s stock after acquiring an additional 101,969 shares during the quarter. Dimensional Fund Advisors LP’s holdings in State Bank Financial were worth $50,203,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Water Island Capital LLC acquired a new stake in State Bank Financial during the 2nd quarter worth about $12,859,000. LSV Asset Management lifted its position in State Bank Financial by 93.9% during the 2nd quarter. LSV Asset Management now owns 142,724 shares of the financial services provider’s stock worth $4,766,000 after acquiring an additional 69,112 shares during the period. Alps Advisors Inc. acquired a new stake in State Bank Financial during the 2nd quarter worth about $517,000. Martingale Asset Management L P lifted its position in State Bank Financial by 9.4% during the 2nd quarter. Martingale Asset Management L P now owns 136,147 shares of the financial services provider’s stock worth $4,548,000 after acquiring an additional 11,700 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in State Bank Financial during the 2nd quarter worth about $1,109,000. 79.00% of the stock is owned by institutional investors.
NASDAQ STBZ opened at $30.17 on Friday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.04 and a beta of 0.85. State Bank Financial Corp has a fifty-two week low of $27.56 and a fifty-two week high of $35.99. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.02.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 11th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. State Bank Financial’s payout ratio is currently 54.79%.
A number of equities analysts have weighed in on STBZ shares. Zacks Investment Research upgraded State Bank Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 3rd. BidaskClub lowered State Bank Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. ValuEngine lowered State Bank Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $39.50 price objective on shares of State Bank Financial in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.58.
About State Bank Financial
State Bank Financial Corporation operates as the bank holding company for State Bank and Trust Company that provides various community banking services to individuals and businesses. The company's deposit products and services include checking, commercial operating, savings and money market, and individual retirement accounts, as well as short- to longer-term certificates of deposit, commercial and consumer demand deposit, and savings and time deposit products.
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