Stonegate Bank (SGBK) Receives $49.00 Average Target Price from Analysts
Stonegate Bank (NASDAQ:SGBK) has earned an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $49.00.
Several research firms have recently commented on SGBK. BidaskClub raised shares of Stonegate Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine raised shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th.
Shares of Stonegate Bank (NASDAQ:SGBK) traded up 1.16% during midday trading on Monday, hitting $51.62. 789,157 shares of the stock were exchanged. The firm has a 50-day moving average price of $47.32 and a 200-day moving average price of $46.50. The company has a market cap of $790.77 million, a PE ratio of 24.04 and a beta of 0.45. Stonegate Bank has a 12-month low of $33.18 and a 12-month high of $51.77.
Stonegate Bank (NASDAQ:SGBK) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). The firm had revenue of $29.68 million for the quarter, compared to analyst estimates of $32.35 million. On average, equities analysts predict that Stonegate Bank will post $2.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is presently 14.75%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Stonegate Bank by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 3,325 shares of the bank’s stock valued at $154,000 after buying an additional 409 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Stonegate Bank in the 1st quarter valued at about $175,000. Trexquant Investment LP acquired a new position in shares of Stonegate Bank in the 1st quarter valued at about $219,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Stonegate Bank in the 1st quarter valued at about $220,000. Finally, First Bank & Trust boosted its holdings in shares of Stonegate Bank by 5.0% in the 2nd quarter. First Bank & Trust now owns 5,152 shares of the bank’s stock valued at $238,000 after buying an additional 243 shares during the period. 65.17% of the stock is owned by institutional investors and hedge funds.
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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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