First Trust Advisors LP raised its stake in Stonegate Bank (NASDAQ:SGBK) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 12,658 shares of the company’s stock after buying an additional 525 shares during the period. First Trust Advisors LP owned approximately 0.10% of Stonegate Bank worth $408,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Monarch Partners Asset Management LLC increased 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 valued at $498,000 after buying an additional 2,890 shares during the last quarter. Bank of New York Mellon Corp increased its position in Stonegate Bank by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 47,177 shares of the company’s stock valued at $1,522,000 after buying an additional 935 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Stonegate Bank by 16.1% in the first quarter. Kennedy Capital Management Inc. now owns 219,832 shares of the company’s stock valued at $6,586,000 after buying an additional 30,438 shares in the last quarter. National Investment Services Inc. WI purchased a new position in shares of Stonegate Bank during the second quarter valued at approximately $266,000. Finally, California State Teachers Retirement System boosted its position in shares of Stonegate Bank by 1.8% in the second quarter. California State Teachers Retirement System now owns 24,025 shares of the company’s stock valued at $775,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 53.23% of the company’s stock.
Shares of Stonegate Bank (NASDAQ:SGBK) traded up 0.58% during midday trading on Friday, hitting $34.96. 7,510 shares of the stock were exchanged. Stonegate Bank has a 52-week low of $28.21 and a 52-week high of $34.97. The firm’s 50-day moving average is $33.39 and its 200 day moving average is $31.84. The firm has a market cap of $450.21 million, a PE ratio of 16.66 and a beta of 0.30.
Stonegate Bank (NASDAQ:SGBK) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. On average, analysts forecast that Stonegate Bank will post $2.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is presently 15.17%.
Several brokerages recently commented on SGBK. Keefe, Bruyette & Woods boosted their price objective on shares of 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 raised shares of Stonegate Bank from a “sell” rating to a “hold” rating in a research note on Saturday, September 10th. Finally, Hovde Group boosted their price objective on shares of 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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