Eagle Asset Management Inc. lowered its position in shares of State Bank Financial Corp (NASDAQ:STBZ) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,024 shares of the financial services provider’s stock after selling 136,744 shares during the period. Eagle Asset Management Inc. owned about 1.05% of State Bank Financial worth $12,235,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in State Bank Financial during the second quarter worth about $204,000. SG Americas Securities LLC bought a new stake in State Bank Financial during the third quarter worth about $230,000. California Public Employees Retirement System bought a new stake in shares of State Bank Financial in the 4th quarter valued at about $253,000. Sei Investments Co. lifted its stake in shares of State Bank Financial by 59.1% in the 3rd quarter. Sei Investments Co. now owns 8,988 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 3,340 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of State Bank Financial in the 4th quarter valued at about $277,000. 79.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised State Bank Financial from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Thursday, February 1st. BidaskClub raised State Bank Financial from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Hovde Group reissued a “hold” rating on shares of State Bank Financial in a research note on Tuesday, February 6th. Gabelli raised State Bank Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Friday, January 26th. Finally, SunTrust Banks reissued a “buy” rating and issued a $38.00 target price on shares of State Bank Financial in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $34.00.
Shares of State Bank Financial Corp (STBZ) opened at $29.94 on Wednesday. State Bank Financial Corp has a 52 week low of $24.16 and a 52 week high of $31.75. The firm has a market capitalization of $1,184.58, a PE ratio of 24.95, a PEG ratio of 1.15 and a beta of 0.96.
State Bank Financial (NASDAQ:STBZ) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $68.16 million during the quarter, compared to analyst estimates of $65.00 million. State Bank Financial had a return on equity of 9.29% and a net margin of 18.77%. equities analysts anticipate that State Bank Financial Corp will post 2.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, March 5th will be given a dividend of $0.20 per share. This is a positive change from State Bank Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.67%. State Bank Financial’s dividend payout ratio is presently 46.67%.
About State Bank Financial
State Bank Financial Corporation is a bank holding company for State Bank and Trust Company (the Bank). The Bank is a Georgia-based state-chartered bank. The Company offers community banking services to individuals and businesses. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, farmland and agricultural production loans, residential mortgage loans, home equity loans, and consumer loans.
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