Stonegate Bank (SGBK) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC increased its position in shares of Stonegate Bank (NASDAQ:SGBK) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,460 shares of the bank’s stock after buying an additional 7,665 shares during the period. Geode Capital Management LLC’s holdings in Stonegate Bank were worth $6,096,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new position in shares of Stonegate Bank during the first quarter worth about $175,000. Trexquant Investment LP bought a new position in shares of Stonegate Bank during the first quarter worth about $219,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Stonegate Bank during the first quarter worth about $220,000. Kassirer Asset Management Corp bought a new position in shares of Stonegate Bank during the first quarter worth about $235,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Stonegate Bank by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,822 shares of the bank’s stock worth $322,000 after buying an additional 659 shares in the last quarter. Institutional investors and hedge funds own 57.01% of the company’s stock.
Shares of Stonegate Bank (SGBK) traded down 0.06% during trading on Wednesday, hitting $46.78. 6,878 shares of the stock were exchanged. Stonegate Bank has a 12-month low of $30.83 and a 12-month high of $48.53. The stock has a 50-day moving average of $46.32 and a 200 day moving average of $45.98. The stock has a market cap of $711.94 million, a P/E ratio of 21.54 and a beta of 0.45.
Stonegate Bank (NASDAQ:SGBK) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $29.68 million for the quarter, compared to analyst estimates of $32.35 million. Equities analysts predict that Stonegate Bank will post $2.42 earnings per share for the current fiscal year.
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A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Stonegate Bank from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Finally, Zacks Investment Research downgraded shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.
About Stonegate Bank
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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