Two Sigma Investments LP Boosts Stake in Stonegate Bank (SGBK)

Two Sigma Investments LP increased its position in shares of Stonegate Bank (NASDAQ:SGBK) by 16.9% during the fourth quarter, Holdings Channel reports. The fund owned 37,506 shares of the company’s stock after buying an additional 5,424 shares during the period. Two Sigma Investments LP’s holdings in Stonegate Bank were worth $1,565,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SGBK. Bahl & Gaynor Inc. bought a new stake in Stonegate Bank during the third quarter worth $215,000. Seidman Lawrence B increased its stake in Stonegate Bank by 3.0% in the third quarter. Seidman Lawrence B now owns 601,017 shares of the company’s stock worth $20,318,000 after buying an additional 17,353 shares during the last quarter. US Bancorp DE bought a new stake in Stonegate Bank during the third quarter worth $254,000. Forward Management LLC increased its stake in Stonegate Bank by 17.6% in the third quarter. Forward Management LLC now owns 28,150 shares of the company’s stock worth $950,000 after buying an additional 4,215 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Stonegate Bank by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,534 shares of the company’s stock worth $154,000 after buying an additional 36 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.

Institutional Ownership by Quarter for Stonegate Bank (NASDAQ:SGBK)

Shares of Stonegate Bank (NASDAQ:SGBK) opened at 48.40 on Monday. The company’s 50-day moving average is $46.63 and its 200 day moving average is $39.78. The firm has a market capitalization of $686.75 million, a P/E ratio of 23.39 and a beta of 0.45. Stonegate Bank has a 52-week low of $29.06 and a 52-week high of $48.53.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, March 15th. Stonegate Bank’s dividend payout ratio is presently 15.02%.

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A number of research firms have recently weighed in on SGBK. Zacks Investment Research upgraded shares of Stonegate Bank from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 1st. Raymond James Financial, Inc. began coverage on shares of Stonegate Bank in a research note on Wednesday, November 30th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.33.

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.

5 Day Chart for NASDAQ:SGBK

Want to see what other hedge funds are holding SGBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stonegate Bank (NASDAQ:SGBK).

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