Stellarone (NYSE:STEL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Stellarone Corp (NYSE:STEL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.25 and traded as high as $37.56. Stellarone shares last traded at $37.3940, with a volume of 486,975 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Stellarone Stock Up 0.4%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day simple moving average is $37.21 and its two-hundred day simple moving average is $35.27. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 18.34 and a beta of 0.70.

Stellarone (NYSE:STEL) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Stellarone had a net margin of 17.56% and a return on equity of 6.54%. The company had revenue of $111.04 million for the quarter, compared to analyst estimates of $108.41 million. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Stellarone Corp will post 2.1 EPS for the current fiscal year.

Stellarone Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, June 15th. Stellarone’s dividend payout ratio is presently 29.27%.

Institutional Trading of Stellarone

Large investors have recently modified their holdings of the business. Parallel Advisors LLC grew its position in shares of Stellarone by 202.1% in the first quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,267 shares during the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Stellarone in the second quarter valued at approximately $62,000. iSAM Funds UK Ltd acquired a new stake in shares of Stellarone in the third quarter valued at approximately $83,000. Aquatic Capital Management LLC acquired a new stake in shares of Stellarone in the third quarter valued at approximately $112,000. Finally, AlphaQuest LLC grew its position in shares of Stellarone by 60.1% in the third quarter. AlphaQuest LLC now owns 4,351 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 1,633 shares during the last quarter. 54.15% of the stock is currently owned by institutional investors and hedge funds.

Stellarone Company Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.