Monarch Partners Asset Management LLC increased its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 23.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,433 shares of the company’s stock after buying an additional 2,890 shares during the period. Monarch Partners Asset Management LLC’s holdings in Stonegate Bank were worth $498,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SGBK. Metropolitan Life Insurance Co. NY boosted its position in Stonegate Bank by 5.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 7,867 shares of the company’s stock valued at $236,000 after buying an additional 429 shares in the last quarter. National Investment Services Inc. WI bought a new position in Stonegate Bank during the second quarter valued at about $266,000. Geode Capital Management LLC boosted its position in Stonegate Bank by 3.2% in the first quarter. Geode Capital Management LLC now owns 99,101 shares of the company’s stock valued at $2,969,000 after buying an additional 3,084 shares in the last quarter. State Street Corp boosted its position in Stonegate Bank by 7.5% in the first quarter. State Street Corp now owns 151,087 shares of the company’s stock valued at $4,529,000 after buying an additional 10,542 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in 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. 53.23% of the stock is currently owned by institutional investors.
Stonegate Bank (NASDAQ:SGBK) traded down 0.29% during trading on Thursday, reaching $34.04. 55,139 shares of the company’s stock traded hands. The firm’s 50 day moving average is $32.98 and its 200 day moving average is $31.68. The company has a market cap of $438.37 million, a P/E ratio of 16.22 and a beta of 0.30. Stonegate Bank has a 12 month low of $28.21 and a 12 month high of $34.37.
Stonegate Bank (NASDAQ:SGBK) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Analysts anticipate that Stonegate Bank will post $2.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, September 14th. Stonegate Bank’s dividend payout ratio (DPR) is presently 15.17%.
Several research analysts have issued reports on SGBK shares. Zacks Investment Research raised Stonegate Bank from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Stonegate Bank from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Finally, Hovde Group lifted their price objective on shares of Stonegate Bank from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 21st.
Stonegate Bank Company Profile
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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