Stonegate Bank (SGBK) Price Target Raised to $37.00 at Keefe, Bruyette & Woods
Stonegate Bank (NASDAQ:SGBK) had its target price upped by Keefe, Bruyette & Woods from $36.00 to $37.00 in a research note published on Thursday morning. The brokerage currently has a market perform rating on the stock.
SGBK has been the subject of a number of other research reports. Zacks Investment Research upgraded Stonegate Bank from a sell rating to a hold rating in a research note on Saturday, September 10th. Sandler O’Neill restated a buy rating on shares of Stonegate Bank in a research note on Thursday, May 26th.
Stonegate Bank (NASDAQ:SGBK) opened at 33.50 on Thursday. Stonegate Bank has a 1-year low of $28.21 and a 1-year high of $34.00. The company has a market cap of $431.41 million, a price-to-earnings ratio of 15.96 and a beta of 0.28. The stock has a 50 day moving average price of $32.25 and a 200-day moving average price of $31.40.
Stonegate Bank (NASDAQ:SGBK) last issued its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. On average, equities research analysts forecast that Stonegate Bank will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.96%. Stonegate Bank’s dividend payout ratio is presently 15.17%.
Several institutional investors have recently made changes to their positions in the stock. Mendon Capital Advisors Corp acquired a new position in shares of Stonegate Bank during the first quarter valued at $1,061,000. RMB Capital Management LLC raised its position in shares of Stonegate Bank by 49.4% in the first quarter. RMB Capital Management LLC now owns 148,932 shares of the company’s stock valued at $4,462,000 after buying an additional 49,260 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Stonegate Bank by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 124,127 shares of the company’s stock valued at $3,719,000 after buying an additional 1,630 shares in the last quarter. State Street Corp raised its position in shares of Stonegate Bank by 7.5% in the first quarter. State Street Corp now owns 151,087 shares of the company’s stock valued at $4,529,000 after buying an additional 10,542 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Stonegate Bank by 23.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,034 shares of the company’s stock valued at $241,000 after buying an additional 1,548 shares in the last quarter. Hedge funds and other institutional investors own 58.65% of the company’s stock.
About Stonegate Bank
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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