State Bank Financial (STBZ) Expected to Post Quarterly Sales of $65.25 Million
Brokerages forecast that State Bank Financial (NASDAQ:STBZ) will announce $65.25 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for State Bank Financial’s earnings. The lowest sales estimate is $64.30 million and the highest is $66.20 million. State Bank Financial reported sales of $53.42 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.1%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that State Bank Financial will report full year sales of $272.97 million for the current year, with estimates ranging from $270.00 million to $277.60 million. For the next fiscal year, analysts anticipate that the company will post sales of $292.40 million per share, with estimates ranging from $286.00 million to $301.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover State Bank Financial.
State Bank Financial (NASDAQ:STBZ) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. State Bank Financial had a return on equity of 9.26% and a net margin of 18.77%. The firm had revenue of $68.16 million for the quarter, compared to analyst estimates of $65.00 million.
STBZ stock traded up $0.34 during mid-day trading on Wednesday, hitting $32.10. The stock had a trading volume of 106,171 shares, compared to its average volume of 109,168. State Bank Financial has a 1-year low of $24.90 and a 1-year high of $32.20. The firm has a market cap of $1,240.53, a P/E ratio of 21.99, a PEG ratio of 1.19 and a beta of 0.93.
In related news, CFO Sheila Ray purchased 3,300 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $29.50 per share, for a total transaction of $97,350.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STBZ. Wasatch Advisors Inc. boosted its stake in shares of State Bank Financial by 75.4% during the 4th quarter. Wasatch Advisors Inc. now owns 518,583 shares of the financial services provider’s stock worth $15,475,000 after acquiring an additional 222,904 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of State Bank Financial by 18.4% during the 4th quarter. Bank of Montreal Can now owns 854,640 shares of the financial services provider’s stock worth $25,503,000 after acquiring an additional 132,693 shares in the last quarter. Millennium Management LLC boosted its stake in shares of State Bank Financial by 23.5% during the 4th quarter. Millennium Management LLC now owns 693,766 shares of the financial services provider’s stock worth $20,702,000 after acquiring an additional 132,207 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of State Bank Financial by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,198,614 shares of the financial services provider’s stock worth $34,340,000 after acquiring an additional 94,752 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of State Bank Financial by 456.7% during the 4th quarter. Raymond James & Associates now owns 108,585 shares of the financial services provider’s stock worth $3,240,000 after acquiring an additional 89,081 shares in the last quarter. Institutional investors own 79.36% of the company’s stock.
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State Bank Financial Company Profile
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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