Stonegate Bank (SGBK) Stake Maintained by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust held its position in Stonegate Bank (NASDAQ:SGBK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,815 shares of the company’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust’s holdings in Stonegate Bank were worth $4,189,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in SGBK. Metropolitan Life Insurance Co. NY raised its position in Stonegate Bank by 5.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 7,867 shares of the company’s stock worth $236,000 after buying an additional 429 shares during the last quarter. Monarch Partners Asset Management LLC raised its position in Stonegate Bank by 23.0% in the second quarter. Monarch Partners Asset Management LLC now owns 15,433 shares of the company’s stock worth $498,000 after buying an additional 2,890 shares during the last quarter. Geode Capital Management LLC raised its position in Stonegate Bank by 3.2% in the first quarter. Geode Capital Management LLC now owns 99,101 shares of the company’s stock worth $2,969,000 after buying an additional 3,084 shares during the last quarter. National Investment Services Inc. WI bought a new position in Stonegate Bank during the second quarter worth $266,000. Finally, State Street Corp raised its position in Stonegate Bank by 7.5% in the first quarter. State Street Corp now owns 151,087 shares of the company’s stock worth $4,529,000 after buying an additional 10,542 shares during the last quarter. Institutional investors and hedge funds own 53.23% of the company’s stock.
Shares of Stonegate Bank (NASDAQ:SGBK) traded down 0.24% during trading on Friday, hitting $33.96. The company had a trading volume of 45,571 shares. The stock’s 50-day moving average is $33.05 and its 200 day moving average is $31.70. Stonegate Bank has a 52-week low of $28.21 and a 52-week high of $34.37. The firm has a market capitalization of $437.34 million, a P/E ratio of 16.18 and a beta of 0.30.
Stonegate Bank (NASDAQ:SGBK) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Equities research analysts predict that Stonegate Bank will post $2.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.08 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.32 annualized dividend and a yield of 0.94%. Stonegate Bank’s dividend payout ratio is presently 15.17%.
A number of research firms have weighed in on SGBK. Keefe, Bruyette & Woods lifted their price objective on Stonegate Bank from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, September 15th. Zacks Investment Research upgraded Stonegate Bank from a “sell” rating to a “hold” rating in a research note on Saturday, September 10th. Finally, Hovde Group lifted their price target on Stonegate Bank from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, September 21st.
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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