On average, analysts expect that Stonegate Bank will report full year earnings of $2.53 per share for the current financial year, with EPS estimates ranging from $2.52 to $2.53. For the next year, analysts anticipate that the firm will post earnings of $3.03 per share, with EPS estimates ranging from $3.00 to $3.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Stonegate Bank.
Wall Street brokerages expect that Stonegate Bank (NASDAQ:SGBK) will post earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Stonegate Bank’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.62. Stonegate Bank posted earnings of $0.54 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 13%. The business is expected to announce its next quarterly earnings results after the market closes on Friday, July 28th.
Stonegate Bank (NASDAQ:SGBK) last announced its earnings results on Friday, April 28th. The bank reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $27.96 million for the quarter, compared to analysts’ expectations of $29.49 million.
SGBK has been the subject of several recent research reports. ValuEngine raised shares of Stonegate Bank from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Zacks Investment Research cut shares of Stonegate Bank from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $49.00 target price on shares of Stonegate Bank in a report on Wednesday, April 5th. Finally, Hovde Group cut shares of Stonegate Bank from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Monday, April 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Stonegate Bank currently has a consensus rating of “Hold” and a consensus target price of $49.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC purchased a new position in Stonegate Bank during the first quarter worth $175,000. Trexquant Investment LP bought a new stake in Stonegate Bank during the first quarter worth approximately $219,000. Dynamic Technology Lab Private Ltd bought a new stake in Stonegate Bank during the first quarter worth approximately $220,000. Kassirer Asset Management Corp bought a new stake in Stonegate Bank during the first quarter worth approximately $235,000. Finally, HighTower Advisors LLC bought a new stake in Stonegate Bank during the first quarter worth approximately $292,000. 63.61% of the stock is owned by institutional investors.
Stonegate Bank (SGBK) traded up 0.86% during midday trading on Monday, hitting $46.68. The stock had a trading volume of 26,050 shares. The firm has a market capitalization of $714.25 million, a P/E ratio of 21.72 and a beta of 0.45. Stonegate Bank has a 52-week low of $30.61 and a 52-week high of $48.53. The firm has a 50-day moving average of $45.73 and a 200 day moving average of $45.23.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.08 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. Stonegate Bank’s payout ratio is 14.88%.
About Stonegate Bank
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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