Alpine Woods Capital Investors LLC bought a new position in Stonegate Bank (NASDAQ:SGBK) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 7,500 shares of the bank’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of SGBK. First Bank & Trust boosted its stake in shares of Stonegate Bank by 5.0% in the second quarter. First Bank & Trust now owns 5,152 shares of the bank’s stock worth $238,000 after buying an additional 243 shares during the last quarter. Forward Management LLC boosted its stake in shares of Stonegate Bank by 3.1% in the first quarter. Forward Management LLC now owns 10,947 shares of the bank’s stock worth $515,000 after buying an additional 326 shares during the last quarter. American International Group Inc. boosted its stake in shares of Stonegate Bank by 7.5% in the first quarter. American International Group Inc. now owns 7,082 shares of the bank’s stock worth $333,000 after buying an additional 495 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Stonegate Bank by 2.9% in the first quarter. Teachers Advisors LLC now owns 20,488 shares of the bank’s stock worth $965,000 after buying an additional 587 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake 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 during the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Shares of Stonegate Bank (NASDAQ:SGBK) opened at 46.36 on Friday. The firm has a 50-day moving average of $46.54 and a 200-day moving average of $46.32. Stonegate Bank has a 52-week low of $31.87 and a 52-week high of $48.53. The stock has a market cap of $710.19 million, a P/E ratio of 21.59 and a beta of 0.45.

Stonegate Bank (NASDAQ:SGBK) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.59 earnings per share 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 the consensus estimate of $32.35 million. On average, equities analysts expect that Stonegate Bank will post $2.44 EPS for the current fiscal year.

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A number of analysts recently weighed in on the stock. BidaskClub cut shares of Stonegate Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research cut shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Finally, ValuEngine upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently 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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Institutional Ownership by Quarter for Stonegate Bank (NASDAQ:SGBK)

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