Stieven Capital Advisors L.P. cut its stake in shares of Stonegate Bank (NASDAQ:SGBK) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,216 shares of the bank’s stock after selling 700 shares during the period. Stieven Capital Advisors L.P. owned about 0.63% of Stonegate Bank worth $4,201,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SGBK. Stifel Financial Corp purchased a new position in Stonegate Bank during the first quarter valued at $797,000. JPMorgan Chase & Co. raised its position in Stonegate Bank by 11.5% in the first quarter. JPMorgan Chase & Co. now owns 99,539 shares of the bank’s stock valued at $4,688,000 after buying an additional 10,261 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Stonegate Bank during the first quarter valued at $1,248,000. Trexquant Investment LP purchased a new position in Stonegate Bank during the first quarter valued at $219,000. Finally, Context BH Capital Management LP raised its position in Stonegate Bank by 34.8% in the first quarter. Context BH Capital Management LP now owns 115,529 shares of the bank’s stock valued at $5,440,000 after buying an additional 29,845 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.
Shares of Stonegate Bank (NASDAQ:SGBK) traded down 0.18% during trading on Friday, hitting $45.40. 58,512 shares of the stock traded hands. Stonegate Bank has a 52-week low of $30.61 and a 52-week high of $48.53. The company’s 50 day moving average is $45.94 and its 200 day moving average is $43.70. The firm has a market cap of $694.67 million, a PE ratio of 21.13 and a beta of 0.45.
Stonegate Bank (NASDAQ:SGBK) last released its earnings results on Friday, April 28th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $27.96 million during the quarter, compared to analysts’ expectations of $29.49 million. On average, equities research analysts predict that Stonegate Bank will post $2.60 EPS for the current year.
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Several brokerages have recently commented on SGBK. Zacks Investment Research lowered shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $49.00 price objective on shares of Stonegate Bank in a report on Wednesday, April 5th. Finally, Hovde Group lowered shares of Stonegate Bank from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a report on Monday, April 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Stonegate Bank presently has a consensus rating of “Hold” and a consensus price target of $49.33.
Stonegate Bank Company Profile
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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