Stellarone (NYSE:STEL) Stock Crosses Above 200 Day Moving Average – Here’s Why

Stellarone Corp (NYSE:STEL) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.55 and traded as high as $38.87. Stellarone shares last traded at $38.8390, with a volume of 424,719 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Stellarone Trading Up 1.1%

The business’s 50 day simple moving average is $37.40 and its 200-day simple moving average is $35.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $1.98 billion, a P/E ratio of 18.95 and a beta of 0.70.

Stellarone (NYSE:STEL) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $111.04 million during the quarter, compared to the consensus estimate of $108.41 million. Stellarone had a return on equity of 6.54% and a net margin of 17.56%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, analysts forecast that Stellarone Corp will post 2.1 EPS for the current year.

Stellarone Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. Stellarone’s dividend payout ratio (DPR) is currently 29.27%.

Institutional Investors Weigh In On Stellarone

Several large investors have recently modified their holdings of the business. Osaic Holdings Inc. bought a new stake in Stellarone during the 2nd quarter worth approximately $62,000. Parallel Advisors LLC lifted its stake in Stellarone by 202.1% in the first quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,267 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Stellarone in the third quarter valued at approximately $83,000. Aquatic Capital Management LLC acquired a new position in shares of Stellarone in the third quarter valued at approximately $112,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Stellarone during the first quarter worth $202,000. 54.15% of the stock is currently owned by institutional investors.

About Stellarone

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.