State Bank Financial Corp (STBZ) Given Consensus Recommendation of “Hold” by Brokerages
State Bank Financial Corp (NASDAQ:STBZ) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.75.
STBZ has been the topic of several analyst reports. Zacks Investment Research upgraded State Bank Financial from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, July 3rd. BidaskClub upgraded State Bank Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. ValuEngine lowered State Bank Financial from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $39.50 price objective on shares of State Bank Financial in a research note on Wednesday, August 8th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in State Bank Financial during the 1st quarter worth $106,000. Stratos Wealth Partners LTD. acquired a new position in State Bank Financial during the 1st quarter worth $106,000. Sheets Smith Wealth Management acquired a new position in State Bank Financial during the 2nd quarter worth $223,000. Principal Financial Group Inc. acquired a new position in State Bank Financial during the 1st quarter worth $203,000. Finally, Meeder Asset Management Inc. lifted its holdings in State Bank Financial by 57.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,851 shares of the financial services provider’s stock worth $262,000 after buying an additional 2,869 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.
State Bank Financial (NASDAQ:STBZ) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.07). State Bank Financial had a net margin of 20.06% and a return on equity of 10.64%. The company had revenue of $67.05 million during the quarter, compared to the consensus estimate of $67.60 million. sell-side analysts forecast that State Bank Financial will post 2.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 11th. Investors of record on Tuesday, September 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. State Bank Financial’s dividend payout ratio (DPR) is presently 54.79%.
About State Bank Financial
State Bank Financial Corporation operates as the bank holding company for State Bank and Trust Company that provides various community banking services to individuals and businesses. The company's deposit products and services include checking, commercial operating, savings and money market, and individual retirement accounts, as well as short- to longer-term certificates of deposit, commercial and consumer demand deposit, and savings and time deposit products.
Read More: Price to Earnings Ratio (PE)
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