Stonegate Bank (SGBK) Shares Gap Up to $31.62
Stonegate Bank (NASDAQ:SGBK) shares gapped up prior to trading on Thursday . The stock had previously closed at $31.56, but opened at $31.62. Stonegate Bank shares last traded at $31.85, with a volume of 11,433 shares trading hands.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Stonegate Bank from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Keefe, Bruyette & Woods raised their price target on Stonegate Bank from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Stonegate Bank in a report on Thursday, May 26th.
The company’s 50 day moving average is $31.82 and its 200-day moving average is $30.73. The firm has a market capitalization of $408.66 million and a price-to-earnings ratio of 15.07.
Stonegate Bank (NASDAQ:SGBK) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Equities analysts anticipate that Stonegate Bank will post $2.11 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Stonegate Bank stock. Nationwide Fund Advisors boosted its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 85.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,381 shares of the company’s stock after buying an additional 16,280 shares during the period. Nationwide Fund Advisors owned approximately 0.28% of Stonegate Bank worth $1,163,000 as of its most recent SEC filing.
Stonegate Bank provides a range of business and consumer financial services. The Bank also provides a range of banking services to individual and corporate customers. The Bank provides personal banking, business banking and wealth management services. Its personal banking products include checking, money market, savings, certificates of deposit, individual retirement accounts (IRAs), consumer loans and residential mortgage loans.
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